Residential consumers of Visayan Electric will see a P2.36/kWh decrease in their October–November 2024 electricity bill. This reduction brings the total rate down to P11.16/kWh. For a household consuming 200kWh, this translates to savings of up to P472 on the next bill. The rate decrease is attributed to lower electricity prices in the Wholesale Electricity Spot Market (WESM)—a venue where electricity is traded—along with the conclusion of the four-month staggered payment of WESM dues, as mandated by the Energy Regulatory Commission (ERC) last June.
This reduction brings the total rate down to P11.16/kWh. For a household consuming 200kWh, this translates to savings of up to P472 on the next bill.
Last June, the ERC required all distribution utilities to spread the unusually high WESM rates, caused by the Red and Yellow Alerts last summer, evenly over four months, from June to September. Now that these staggered payments have concluded last month, the additional charge of approximately 92 centavos that was added to residential electricity rates over this period has been fully settled.
Despite this month’s reduction in electricity rates, Visayan Electric President and COO Raul Lucero advises consumers to be mindful of their energy consumption as the holiday season approaches.
“Our data shows that energy consumption increases in the last quarter of the year due to holiday celebrations and parties. My advice to our consumers is to consistently practice energy-saving measures,” Lucero said.
“Even small efforts, like avoiding frequent opening of the refrigerator, can make a big difference,” he added.
As the holidays approach, Visayan Electric also reminds consumers to be cautious about electrical safety when setting up Christmas lights and decorations. The distribution utility recommends purchasing lights from reliable, established brands and ensuring that lights and decorations are switched off when leaving
the house.
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