Another Round Of Rate Reduction From Meralco This July
The Manila Electric Co. (Meralco) will be having another round of rate reduction this July, which is at 10.68 centavos per kilowatt-hour (kWh). This is going to be the third straight month of their rate reduction and it is due to the lower costs from independent producers (IPPs) that offset higher prices at the spot market.
Mercaldo said in a statement that the price cut would mean a decrease in the July bill of about PHP21 for a typical residential customer using 200 kWh in a month. From 10.918 per kWh in the June billing period, the overall charge went down to PHP9.9850 in July billing period.
Meralco said the cost of electricity sourced through power supply agreements was still “stable,” with an increase of 4.14 centavos per kWh and representing 50.5 percent of the company’s supply this month.
There was also an increase of PHP1.8794 per kWh in the cost of electricity from the Wholesale Electricity Spot Market, which provided 8 percent of Meralco’s supply.
Meralco added there was also a 7.88 centavo per kWh reduction in the transmission charge for residential customers while taxes and other charges went down by 3.49 centavos per kWh.