Visayan Electric lowers power rates

Residential customers of Visayan Electric will benefit from a P0.62 per kilowatt-hour (kWh) reduction in their May-June electricity bills. This rate cut lowers the overall residential rate to P11.16/kWh, down from last month's P11.78/kWh.

- Mitchelle L. Palaubsanon/FPL

"For a household consuming 200 kWh, this translates to a savings of P124," Visayan Electric said in a statement.

The country's second-largest power distributor attributed the decrease to the lower cost of electricity in the wholesale electricity spot market (WESM), the trading platform where electricity is bought and sold.

Despite the rate drop, Visayan Electric reminded customers to remain mindful of their electricity use, especially as the dry season continues.

The utility noted that while Cebu and nearby provinces have seen scattered rains, the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) has not yet declared the start of the wet season.