Visayan Electric residential consumers will experience a P0.61/kWh decrease in their July to August billing due to the decline of the price of coal in the world market and the price of electricity in the Wholesale Electricity Spot Market (WESM).
Last July 4, 2023, PAGASA officially announced the onset of El Niño, which increases the possibility of dry spells and drought, and is expected to persist until the first quarter of 2024.
The decrease brings the average residential rate down to P13.11/kWh from P13.72/kWh of the previous month, which means that a household that consumes 200 kWh per month will save at least P122 in their next bill.
This is the third month, since May, that residential rates for Visayan Electric customers have gone down, after a slight increase of P0.03 centavos in the residential rates last April. At the height of the fuel price increases in the second half of 2022, residential electricity rates went up to as high as P16.40/kWh in November but has experienced a downward trend since then as prices of fuel and coal in the world market have stabilized.
Visayan Electric explains that the outside temperature is the main driver for electricity consumption, especially on the heavy usage of cooling appliances during hot days.
While the public has been experiencing cool weather lately, Visayan Electric President and COO Raul Lucero, reminds consumers to still be mindful of their electricity consumption.
“With the PAGASA officially declaring the onset of El Niño, we can expect extremely hot weather in the coming months, that is why it is very important for us to practice energy conservation behaviors as early as now,” the executive expressed.
Last July 4, 2023, PAGASA officially announced the onset of El Niño, which increases the possibility of dry spells and drought, and is expected to persist until the first quarter of 2024.
