A 22 centavos increase in electricity rates will be implemented in the Visayan Electric franchise for the billing month of Nov-Dec due to high prices of fuel and the Wholesale Electricity Spot Market (WESM).
Engr. Raul C. Lucero, president and chief operating officer of Visayan Electric, explained that the Nov-Dec billing cycle for residential customers will still reflect the high WESM prices that were driven by the equally high prices of fuel in the world market.
“Our electricity rates are still very much affected by the global price of fuel, especially now that worldwide supply is low and economies are starting to reopen. WESM prices are affected by this, as well,” he said.
Lucero added that customers should be mindful of their electricity use to avoid bill shock, more so that the Christmas season is here and people tend to consume more electricity for their lights and other appliances.
Payment arrangements for customers who cannot pay their electricity bills in full are still being offered and may be availed of at any of the Visayan Electric service centers.