RESIDENTIAL power rates in Cebu are set to increase by up to 37 percent for the July-August billing period.
Visayan Electric said in a Facebook advisory on Wednesday, July 17, 2024, that from the P9.71 in June, the power rate will increase to P13.27 per kilowatt-hour (kWh) in July.
Customers consuming at least 200 kWh per month will see an additional charge of P712 on their next bill.
Visayan Electric said the rate hike was primarily due to high electricity prices in the Wholesale Electricity Spot Market (WESM) and the second installment of staggered WESM payments from May.
The Energy Regulatory Commission (ERC) issued Order 2024-01MC, allowing power purchases to be paid over four months. For June, the first installment of May's payments was collected, resulting in a lower rate of P9.71 per kWh.
However, with the second installment added for the July-August billing period, approximately P0.90 was added to the rate, increasing the average residential charge to P13.27 per kWh.
Customers are advised to manage their energy use carefully, as the staggered payment plan for WESM purchases from May will remain in effect through the September-October billing cycle. (Eva Joy Bugas, UP Cebu intern)