Central Negros Electric Cooperative (CENECO) announced on Tuesday, May 16, that its average residential rate for May is P12.9637/kwh, an increase by P0.2266/kWh from last month’s rate of P12.7371/kWh.
Acting General Manager Arnel Lapore attributed the increase to a 4.15% increase in the total generation charges.
He said that the Wholesale Electricity Spot Market (WESM) price increased from P7.5527/kWh to P8.9556/kWh, or an upward adjustment of P1.4036/kWh.
Lapore also cited the implementation of the additional Universal Charges – Missionary Electrification rate of P0.0433/kWh.
The WESM is the country’s electricity trading market where electricity suppliers and buyers trade electricity. The WESM price is determined by supply and demand, and it can fluctuate depending on a number of factors, such as the weather and the availability of power plants.
The Universal Charges – Missionary Electrification rate is a government subsidy that is used to provide electricity to remote and underserved areas.