November 12, 2024 | 2:00pm
MANILA, Philippines — Meralco customers will see higher power rates this November as the electricity firm jacked up its prices by P0.4274 per kilowatt-hour (kWh), bringing the rate for an average household up to P11.8569 per kWh.
If your household consumes over 200 kWh, expect a net increase of at least P85 in your electricity bill. Here are the expected price adjustments based on your electrical consumption:
- 200kWh – P85
- 300kWh – P128
- 400kWh – P171
- 500kWh – P213
Meralco attributed this increase to higher generation charges.
“The increase is due to a rise in the generation charge of P0.20 per kWh,” Meralco Vice President and Head of Corporate Communications Joe Zaldarriaga said in Filipino during a press briefing on Tuesday, November 12.
The peso’s poor performance against the dollar in October and November also contributed to the increase. Many utilities necessary to Meralco operations are priced in dollars, such as fuel, Meralco Head of Utility Economics Larry Fernandez said. The peso’s poor performance led to an increase in charges from Independent Power Producers and Power Supply Agreements.
Wholesale Electricity Spot Market also increased by P0.0150 per kWh.
Taxes and other charges increased by P0.0666 per kWh.
When asked about the possible price hikes during December for the Christmas season, Fernandez said that all indicators are flat except for the US dollar.
Fernandez also said that there will be a higher demand for power during the holiday season. While electric cooling appliances are less likely to be used during the colder holiday season, Fernandez said that the holiday also spurns on higher economic activity.
This increase in power charges comes amid the ongoing effects of several cyclones in the Philippines, with Severe Tropical Storm Nika (International name:Toraji) and Tropical Storm Ofel (International name: Usagi) still within the Philippine area of responsibility.
The country is also still grappling with the aftermath of Severe Tropical Storm Kristine (International name: Trami) and Super Typhoon Leon (International name: Kong-Rey).
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