Meralco Electric Rates For January Down By ₱0.41/kWh
Meralco customers will enjoy a respite from their electric bills after three consecutive months of increases. Rates for the January billing period will be down by 41 centavos per kilowatt-hour.
The electricity company said in the statement that the lower cost of electricity is due to the lower cost of electricity sourced through power supply agreements and from independent power products (IPPs).
A total of 82.9 centavos has been accumulated from the hikes seen in the fourth quarter of 2019. The latest change counters almost by half, which equates to about ₱82 savings for a typical residential unit that consumes 200 kWh a month. Meralco’s overall charge for January went down to ₱9.4523 kWh from ₱9.8623 kWh in the December billing period. Translating to a difference of 38.62 centavos per kWh.
On the other side of Meralco’s business, their wholesale electricity spot which comprises about 9 percent of Mercalco’s supply went up by ₱1.7031 per kWh because of tighter supply conditions in the Luzon grid.