Lower power rate at start of 2024

CEBU, Philippines —  Residential customers of Visayan Electric are in for a lovely start of 2024.

This, after the distribution company announced a power rate decrease of P1.16 per kilowatt hour for the December-January billing period.

In a statement yesterday, Visayan Electric said average residential rate would go down to P11.43/kWh from P12.59/kWh.

This is the lowest residential rate implemented by Visayan Electric throughout 2023.

It means that a household that consumes 200 kWh per month would save P232 in its next bill.

Visayan Electric said that although transmission costs have increased, reduction in power prices at the Wholesale Electricity Spot Market (WESM) played a "pivotal role in pulling down the overall electricity rates for residential customers during this billing cycle."

“This is fantastic news for our residential customers. The reduced rates for the December-January period mark a significant and welcome development, particularly during the holiday season, traditionally associated with increased electricity consumption," said Engr. Raul C. Lucero, Visayan Electric president and chief operating officer.

He said that Visayan Electric is committed to provide "reliable and affordable" electricity, which is why it passes whatever savings brought by development in the world market to the consumers.

"Makatabang gyud siya. Ug maayo nalang kay ma-balance ang atong budget. Nasayod baya ta nga nagmahal pud  ang mga nag-unang palitonon. Kung mogamay ang atong bayranan sa kuryente, maigo gyud intawon ang gi-allocate nato nga budget sa atong mga panginahanglonon," said barangay worker Nhice Gurrea, when randomly sought for comment.(CEBU NEWS)