As long as lakes and reservoirs are an important component of the global carbon cycle, monitoring of their metabolism is required, especially in the tropics. In particular, the response of deep reservoirs to water-level fluctuations (WLF) is an understudied field. Here, we study community metabolism through oxygen dynamics in a deep monomictic reservoir where high WLF (~10 m) have recently occurred. Simultaneous monitoring of environmental variables and zooplankton dynamics was used to assess the effects of WLF on the metabolism of the eutrophic Valle de Bravo (VB) reservoir, where cyanobacteria blooms are frequent. Mean gross primary production (P g) was high (2.2 g C m(-2) day(-1)), but temporal variation of P g was low except for a drastic reduction during circulation attributed to zooplankton grazing. The trophogenic layer showed net autotrophy on an annual basis, but turned to net heterotrophy during mixing, and furthermore when the whole water-column oxygen balance was calculated, considering the aphotic respiration (Raphotic). The high total respiration resulting (3.1 g C m(-2) day(-1)) is considered to be partly due to mixing enhanced by WLF. Net ecosystem production was equivalent to a net export of 3.4 mg CO₂ m(-2) day(-1) to the atmosphere. Low water levels are posed to intensify boundary-mixing events driven by the wind during the stratification in VB. Long-term monitoring showed changes in the planktonic community and a strong silicon decrease that matched with low water-level periods. The effects of low water-level on metabolism and planktonic community in VB suggest that water-level manipulation could be a useful management tool to promote phytoplankton groups other than cyanobacteria.