Electricity rates up by P0.53 for November

CUSTOMERS of Visayan Electric will see an increase of P0.53 per kilowatt hour in their bills for November-December due to high generation rates.

The increase brings the overall average rate for residential customers to P16.40 per kWh from the P15.87 per kWh of the previous month. This means that a typical household that consumes at least 200 kWh per month will have to pay an additional P106 for the month of November.

Visayan Electric President and Chief Operating Officer Raul C. Lucero explained that the continued high prices of coal and oil are the main causes of the increasing prices of electricity. “The weak peso, as well as the high inflation rate in the country has also contributed to the high prices of coal and oil since these commodities are imported from other countries,” he said.

The price of power in the Wholesale Electricity Spot Market (WESM) may have slightly decreased, Lucero added, but this cannot significantly bring down the overall price of electricity. (PR)