RATE INCREASE. A lineman repairs a Visayan Electric Company line in this file photo. The power firm announced Tuesday (May 14, 2024) an increase of PHP0.86 per kilowatt-hour in electricity rate for residential consumers under its service area in Metro Cebu. (PNA file photo)
CEBU CITY – The Visayan Electric Company on Tuesday announced an increase of PHP0.86 per kilowatt-hour (kWh) for residential consumers in its service area in Metro Cebu.
In an advisory, Visayan Electric said the increase is equivalent to 7.3 percent from PHP11.28 per kWh last April to PHP12.1 per kWh this May.
“The increase is attributed to high generation rates due to price hikes in the Wholesale Electricity Spot Market (WESM),” the advisory said.
The rate will apply to bills received from May 13 to June 12, 2024.
Raul Lucero, Visayan Electric president and chief operating officer, said generation rates are pass-through charges paid to power generation companies through WESM.
In April, the National Grid Corporation of the Philippines (NGCP) issued several yellow and red alerts due to power supply issues in the Luzon and Visayas grids.
On Tuesday, NGCP placed the Visayas grid on yellow alert from 1 p.m. to 4 p.m. and 6 p.m. to 9 p.m., indicating that the operating margin of a grid line is insufficient to meet contingency requirements. (PNA)
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