Power rates may go up

Electricity rates may rise by an additional P0.5143 per kilowatt-hour (kWh) if the Power Sector Assets and Liabilities Management Corporation (PSALM) is forced to settle over P60 billion in damages from a suit filed by former employees. The universal change, a separate line in the electricity bill, will go up to P6.80 per kWh from P6.287 per kWh currently if PSALM were to recover the damages. The additional P0.5143 will be recovered every month for 5 years. With a recovery period of 10 years, the amount will be lower at P0.2616 per kWh. Energy Secretary Carlos Jericho Petilla also expressed concern over the impact of the recent court decision that favored terminated National Power Corporation employees.

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