Visayan Electric residential customers will see a P0.95 increase per kilowatt-hour (kWh) in their electricity rates this billing month of September-October 2024. For a household consuming an average of 200 kWh per month, this translates to an additional P190 on their electricity bill.
For emergencies or concerns, customers can contact Visayan Electric’s 24/7 hotline at 230-8326 or reach out via the official Visayan Electric Co, Facebook.
The rate adjustment raises the residential rate to P13.52 per kWh, up from P12.57 per kWh in the previous month. The increase is driven by higher transmission charges from the National Grid Corporation of the Philippines (NGCP) and the final installment of deferred payments for power purchases made through the Wholesale Electricity Spot Market (WESM) last May.
The rise in NGCP transmission charges is primarily due to the resumption of the Ancillary Services-Reserve Market (AS-RM). Ancillary services provide backup power from qualified generating plants, ensuring a stable and reliable electricity supply.
“Although we have to pay more for NGCP’s ancillary services, it is essential for maintaining grid stability and preventing power shortages and eventual power outages,” said Visayan Electric President and Chief Operating Officer Engr. Raul C. Lucero.
Despite the recent hike, Lucero remains optimistic about future reductions in electricity rates. He pointed out that cooler weather and the completion of deferred WESM payments this month could ease rates in the near future.
As the holiday season approaches, Lucero also reminded customers to prioritize electrical safety when setting up holiday lights and decorations.
“Whether at home, work, or in business establishments, practicing electrical safety is key to preventing accidents caused by improper use of electricity,” he advised.
For emergencies or concerns, customers can contact Visayan Electric’s 24/7 hotline at 230-8326 or reach out via the official Visayan Electric Co, Facebook.