LAOAG CITY, Ilocos Norte, Philippines — Electricity rates in this province have decreased by 90 centavos this month, according to the Ilocos Norte Electric Cooperative (Ineco).
In a radio interview, Cipriano Martinez, Ineco acting general manager, said this means that from P10.48 per kilowatt-hour, the rates this month would decrease to P9.52 per kwh.
Martinez said the rate reduction is due to the power firm’s anti-bill shock lending program with the Land Bank of the Philippines.
He said Ineco obtained a P100-million loan from Landbank to provide affordable rates to consumers.