SunStar
+ December 17, 2020 VISAYAN Electric is exploring ways to reduce the power rate in Metro Cebu following its recent dialogue with the business community.
Visayan Electric president and chief operating officer Raul Lucero on Thursday, Dec. 17, 2020, said the utility firm is coming up with a plan on how to cut the power rates vis-a-vis the firm’s existing contracts with independent power producers (IPP).
“We still have to calculate how much we can negotiate with the IPPs. We are still starting to talk to them,” said Lucero, adding that they hope to see progress in the first quarter of 2021.
But he stressed that Visayan Electric cannot just modify the contracts they have entered into with the IPPs.
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