Power rate decrease for June-July billing

CEBU, Philippines — Residential customers of Visayan Electric will have a respite from the high power prices at the Wholesale Electricity Spot Market (WESM) as the electric utility will implement a ?2.43/kWh decrease in average rates for the billing month of June-July.

VECO said this translates to a savings of ?486 for a household with a monthly electric consumption of 200 kWh.

“The decrease in electricity rates, which brings the average residential rate to ?9.71/kWh, is due to Energy Regulatory Commission (ERC) order 2024-01MC, approved on June 13, 2024, that implements a four-month staggered payment of power purchases made by distribution utilities from WESM in May,” Visayan Electric said.

It said that purchases made in WESM for the month of May, according to the ERC order, will be payable from June to September.

“This is good news for Visayan Electric customers for the month. Since we do not have to pay in full our WESM purchases, our average rates have really gone down,” said Visayan Electric President and Chief Operating Officer Raul C. Lucero.

But he still encouraged Visayan Electric customers to always be mindful of their electricity consumption and to always practice energy conservation, as the staggered payment to WESM will be added to the bills for July to September.

“Remember that the payment for WESM has only been staggered. We still have to collect this generation charge from customers from July to September in addition to their bills for the said months,” he added.

Lucero also said that since the rainy season has started, customers should practice electrical safety especially during floods and strong rains.

Customers, especially those in flood-prone areas, should be ready to turn off their breakers if floodwaters start to rise to ensure their safety. They should also stay away from downed power lines and poles. — (FREEMAN)