The Manila Electric Company (Meralco) on Friday, May 7, announced a new round of rate increase in May.
Meralco said in a statement that rates will increase for the second consecutive month by P0.1853/per kilowatt-hour to P8.59 per kWh.
This is equivalent to increases for households consuming the following, for example:
- P37.06 for 200 kWh
- P55.59 for 300 kWh
- P74.12 for 400 kWh
- P92.65 for 500 kWh
Meralco said that the upward adjustment was due to the completion of the refund for over-recoveries for pass-through charges. The overall rate in May still includes the distribution rate true-up refund worth P0.2761 per kWh.
Generation charge in May was relatively flat, inching P0.0104 per kWh to P4.5474 per kWh.
Charges from Power Supply Agreements (PSA) were up by P0.2541 per kWh due to the low dispatch of San Gabriel as Malampaya natural gas supply has been restricted.
Spot prices were “high” due to tight supply in the Luzon grid, according to Meralco, without providing the exact figure. Share from the Wholesale Electricity Spot Market was down to 7%.
Charges from independent power producers (IPP) decreased by P0.1921 per kWh. PSA and IPPs share to Meralco’s power requirement was at 52% and 41%, respectively.
Transmission charge slightly increased by P0.0933 per kWh following the completion of transmission refunds, as ancillary service charges increased. Taxes and other charges also posted an increase of P0.0816 per kWh. – Rappler.com