Negros Electric and Power Corp. announced a minimal increase in residential electricity rates for August, despite a significant surge in the generation cost across the region.
The average residential rate will be P11.50/kWh, an increase of P 0.13/kWh from July’s rate of P11.37/kWh, Negros Power announced on Tuesday, August 19.
The increase was primarily driven by the Wholesale Electricity Spot Market (WESM), where the rate jumped from P4.88/kWh to P5.46/kWh, it said.
This change alone would have led to a much higher increase for consumers, Negros Power said.
However, Negros Power’s careful cost management and supply strategies helped to lessen the impact, it added.
The increase was also partially offset by a decrease in transmission costs, as the Ancillary Services–Reserve Market charge dropped by P 23.65/kW, providing a P0.027/kWh reduction for households, Negros Power said.*