Power rates go up by P2/kWh, oil prices roll back

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Power rates will increase by more than P2 this month due to higher generation charge as pump prices decline after four weeks of price hikes.

Meanwhile, oil firms rolled back fuel prices at 6 a.m. today , ending four weeks of consecutive price increases. Year-to-date total adjustment of gasoline, diesel and kerosene stood at a net increase of P10.85 per liter, P9.05 per liter and P2.35 per liter, respectively. “The bulk of Meralco’s supply comes from its IPPs . Admittedly, though, the P2.0021 per kWh generation rate increase is higher than expected. In any event, the rates are subject to the Commission’s validation pursuant to our cost adjustment regulations,”Dimalanta said.

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