Electricity rates for July will go down by P0.7213 per kilowatt hour (kWh) to P11.1899 per kWh, the Manila Electric Company (Meralco) announced on Monday. Know more:
Manila Electric Company linemen perform regular maintenance check of overhead electric power meters along T. M. Kalaw Street in Manila in this file photo.Electricity rates for July will go down by P0.7213 per kilowatt hour to P11.1899 per kWh, the Manila Electric Company announced on Monday.
Meralco attributed the decline to the lower generation charge of P6.6066 per kWh this July from P7.2502 per kWh in June. Generation charge makes up bulk of the electricity rates. Charges from Power Supply Agreements and Independent Power Producers also went down by P0.3915 and P0.4658 per kWh, respectively, mainly due to lower coal prices. Also contributing to the reduction was peso appreciation, which affected 20 percent of PSA and 97 percent of IPP costs. PSAs share for this period was 48 percent, while IPPs share was 37 percent.
Collection of the Feed-In Tariff Allowance , meanwhile, remains suspended until the August billing month, as directed by the Energy Regulatory Commission .
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