Electricity rates up due to fuel, WESM prices

·1 min read

THE Visayan Electric franchise will implement a 22-centavo increase in electricity rates for the billing month of November-December due to high prices of fuel and the Wholesale Electricity Spot Market (WESM).

Engineer Raul C. Lucero, president and chief operating officer of Visayan Electric, explained that the

November-December 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.

For more information about Visayan Electric's services, customers may reach out through 230-8326 or through the Visayan Electric Facebook and Twitter pages. (PR)

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