ILOILO CITY, Dec. 22 -- Electricity rate in Iloilo City decreased in December, driven by a drop in electricity demand, according to electric utility More Electric and Power Corporation (MORE Power).

Data showed that the residential rate dropped by PHP0.5081 per kilowatt-hour (kWh), while the commercial rate slid by PHP0.5080 per kWh.

This brings the rate to PHP11.3477 per kWh from last month's PHP11.85/kWh rate.

"This adjustment was driven by a drop in electricity demand, which increased the supply margin and helped lower the average Wholesale Electricity Spot Market (WESM) rate. As demand went down, more power became available, leading to lower average WESM prices," the power distributor said in a statement Sunday afternoon.

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