Customers of the Manila Electric Company (Meralco) would be compelled to tighten belts this month as the power distributor raised its electricity rate for the second straight month in June. In an advisory, Meralco announced an increase of P0.4183 per kilowatt-hour (kWh) in its overall rate, bringing it to P11.9112 per kWh from P11.4929 per kWh in May.
Customers of the Manila Electric Company would be compelled to tighten belts this month as the power distributor raised its electricity rate for the second straight month in June.
The driver for the overall rate increase in June was the completion of the last distribution-related refund in May equivalent to P0.8656 per kWh for residential customers, the impact of which will be felt in the June bills, Meralco said. Nevertheless, Meralco said the rate increase was tempered by the drop in generation charge, which declined down by P0.4195 per kWh from P7.6697 per kWh in May to P7.2502 per kWh in June “due to lower costs from Meralco’s Power Supply Agreements and Independent Power Producers .
The decrease in PSAs and IPPs charges mitigated the P2.0187 per kWh increase in Wholesale Electricity Spot Market charges due to tight supply conditions in Luzon as the peak demand in May reached 12,431 MW, the highest so far on record.The share of PSAs and IPPs to Meralco’s energy requirements during the period went up to 50% and 38%, respectively. Meralco said transmission and other charges registered a net decrease of P0.0278 per kWh.
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