Visayan Electric warns customers of an increase in electricity prices for the billing period of July-August due to high generation rates.
The utility said the high prices of electricity in the Wholesale Electricity Spot Market, as well as the high prices of coal and fuel in the world market are causing an upward trend in power generation rates of up to a P0.39/kWh for the July- August billing period.
“We are asking our customers to be mindful of their electricity use because of the high prices of coal, fuel and even WESM. While we understand that electricity is a necessity especially since many are working from home, we are reminding our customers to use electricity wisely to avoid bill shock,” Visayan Electric President and COO Raul C. Lucero said.
The price of coal and fuel in the world market have been increasing since January, and have also caused WESM prices to go up considerably since most of the power generators that are selling power in the electricity spot market are using such raw materials. The hourly WESM prices would range from P10 to P12.
Lucero added that the high WESM rates are felt by all distribution utilities in Luzon and in the Visayas, where WESM is present.
“Since our bills are driven by electricity consumption and power rates, it is best that we as consumers will take the necessary precautions in controlling our electricity consumption to lessen the impact of high power rates,” he said, adding that while power generation rates have increased, the Visayan Electric distribution rate has remained at P1.5992/kWh since 2014.
Among the power saving measures that Visayan Electric is advocating to its customers is to unplug and turn off appliances that are not in use and to always make sure that their cooling appliances, such as air conditioners and electric fans are well-maintained to function properly and efficiently. (PR)