VISAYAN Electric's residential customers are in for a delightful surprise this holiday season as the average electricity rates have significantly dropped by P1.16 per kilowatt hour for the December-January billing period.
Last month's rate of P12.59/kWh has notably decreased to a more budget-friendly P11.43/kWh, promising substantial savings of up to P232 for households consuming around 200kWh per month.
While transmission charges have seen an uptick, the decline in power prices at the Wholesale Electricity Spot Market (WESM) has played a pivotal role in pulling down the overall electricity rates for residential customers during this billing cycle.
Notably, the current average rate of P11.43/kWh stands as the lowest residential rate implemented by Visayan Electric throughout 2023.
Engr. Raul C. Lucero, President, and Chief Operating Officer of Visayan Electric expressed, “This is fantastic news for our residential customers.
The reduced rates for the December-January period mark a significant and welcome development, particularly during the holiday season, traditionally associated with increased electricity consumption.”
While celebrating these reduced rates, the utility company encourages customers to remain vigilant in managing their electricity usage to avoid potential bill shocks.
Additionally, they emphasize the importance of prioritizing safety measures within homes and properties, ensuring responsible usage despite the lowered rates. (PR)