September 11, 2024 | 1:08pm
MANILA, Philippines — Meralco increased its September energy rates by P0.1543 per kWh, the energy firm said on Wednesday.
This is the third energy hike since July. Meralco said that this brings up the overall rates for an average household to P11.7882 per kWh.
“For residential customers consuming 200 kWh, the adjustment is equivalent to an increase of around P31 in their total electricity bill,” Meralco said in a statement.
Meralco attributed this increase to higher transmission charges.
There was a P0.2913 per kWh increase in transmission charges for residential customers, which was caused by higher ancillary charges with the resumption of the Reserve Market’s operations on August 5.
Meralco said that the Reserve Market’s total ancillary service charges are double that of the National Grid Corporation of the Philippines’ Ancillary Service Procurement Agreements.
“This month’s higher transmission charge more than offset the reduction in the generation charge, which went down by P0.1547 per kWh,” Meralco said.
Meralco said that the reduction of the generation charge was due to the Philippine peso’s strong performance against the US dollar, which is at its strongest since December 2023.
The surge in transmission charges also offset other reductions.
There were also reductions in the charges of Power Supply Agreements, Independent Power Producers, and the Wholesale Electricity Spot Market.
Be the first to comment