Staggered Payment — VECO Rates for June-July Billing have Gone Down!

Good news to Sugboanon aircon enjoyers! VECO rates have gone down for June-July billing!

Photo from Unsplash

The unparalleled summer heat is prompting Cebuano residents to turn on their air conditioners all day. Thus, the staggering electric bills are worrying every residential home in Cebu. However, lo and behold! VECO rates for June-July billing have gone down!

Photo from VECO Official Facebook Page

Staggered Payment

Photo from VECO

On June 13, 2024, the Electric Regulatory Commission (ERC) approved order 2024-01MC, a game-changer that implements a four-month ‘staggered payment’ from the purchases made by power distribution facilities in the Wholesale Electricity Spot Market (WESM). This means that electric companies in the country will be given a four-month allowance to pay for their acquisitions, potentially lightening the financial load for many Cebuano residents.

Photo from Canva

It has Gone Down!

Due to the staggered payment, the Visayan Electric Company (VECO) will implement a decrease of Php 2.43/kWh for the June-July billing, which equates to a decline in electric bill amount of Php 486.00 for every household that has the consumption of 200 kWh—bringing the average electricity bill to Php 9.71/kWh.

Photo from VECO Official Facebook Page

However, despite this decrease, VECO President and Chief Operating Officer Raul C. Lucero advised every Cebuano residential home to be mindful of their electricity usage and still practice energy conservation.

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