BACOLOD CITY, Feb. 16 -- Reduced power generation costs brought down the average residential rate by PHP1.66 per kilowatt hour (kWh) in this highly urbanized city and five neighboring localities in February.

In a statement on Monday, Negros Electric and Power Corp. (Negros Power) said this month's rate is pegged at PHP11.44 per kWh, from PHP13.10 per kWh in January.

"The major driver of this decrease is the sharp drop in generation costs, particularly from the Wholesale Electricity Spot Market (WESM)," it said.

Negros Power serves consumers in the cities of Bacolod, Bago, Talisay and Silay, as well as the municipalities of Murcia and Don Salvador Benedicto.

With the rate reduction, consumers in these areas with an average monthly cons...