The Visayan Electric announced on Wednesday that there will be a decrease by P0.37 per kilowatt hour on power consumption for the February to March billing of consumers under the power service provider.

It explained that the decrease in rates was due to lower generation rates in the Wholesale Electricity Spot Market.

Visayan Electric president and COO Engr. Raul Lucero also said that there are reduced transmitter charges from the National Grid Corporation of the Philippines.

The decrease in generation rate would bring down the power cost from P11.62/kWh to P11.25/kWh. For an average household consuming at least 200 kilowatts a month, the decrease would save them at least P74.