August 12, 2024 | 12:01pm
MANILA, Philippines — The Manila Electric Company is set to slightly hike power rates this August, from P11.6012 per Kilowatthour in July to P11.6339 per kWh this month.
In a statement on Monday, Meralco said there was “a minimal upward adjustment” of P0.0327 per kWh.
“For residential customers consuming 200 kWh, the adjustment is equivalent to an increase of around P7 in their total electricity bill,” Meralco said.
Meralco’s prices have been steadily increasing for the past few months, with July rates already increasing by P2.14 per kWh.
The electric company explained that transmission charges caused the slight increase in prices, with an adjustment rate of P0.1086 per kWh. Meralco said that the grid operators charged higher for ancillary services.
“For this month, ancillary service charges went up by more than 50% as charges for contingency and dispatchable reserves doubled,” Meralco said.
There were also increases in the Malampaya natural gas price, as well as the charges from the Power Supply Agreements, which went up by P0.0421 per kWh due to higher-fuel costs.
Wholesale Electricity Spot Market (WESM) prices were initially registered as a reduction but there was an increase of P0.5940 per kWH after Mertalco paid the third of four installments of May WESM costs, as ordered by the Energy Regulatory Commission.
Meralco said that the increased charges were offset by lowered charges such as the Independent Power Producers decreasing their charges by P0.2974 per kWh, as well as the reduced generation charges.
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