MERALCO HIKES RATES
THE Manila Electric Company announced yesterday an upward adjustment of P0.4274 per kWh in the electricity rate this November, bringing the overall rate for a typical household to P11.8569 per kWh from the previous month’s P11.4295 per kWh.
For residential customers consuming 200 kWh, the adjustment is equivalent to an increase of around P85 in their total electricity bill this month.
Driving this month’s overall rate increase is the P0.2884 per kWh increase in the generation charge.
Charges from the Independent Power Producers (IPPs) and Power Supply Agreements (PSAs) went up by P0.9392 and P0.4295 per kWh respectively, largely due to the depreciation of the peso.
The Peso weakened by P2 vis-à-vis the US Dollar, affecting 98% of IPP costs and 49% of PSA costs that were dollar denominated.
In addition, payments for liquefied natural gas (LNG) terminal fees of First Gas Sta. Rita and San Lorenzo plants contributed to the higher IPP charges.
In compliance with the recent directive of President Ferdinand Marcos Jr. and the Energy Regulatory Commission (ERC), Meralco provided relief to customers severely affected by the recent onslaught of Severe Tropical Storm Kristine.
Meralco customers in areas placed under a state of calamity with a monthly consumption of less than 200 kWh per month are spared from disconnection until December 2024. They can also avail of installment payment arrangements for six (6) months for their electricity bills from October to December 2024.
“Meralco has always been considerate of its customers especially during challenging times. We join the government in efforts to help those severely affected by the storm to recover as soon as possible. Qualified customers for the staggered payment arrangement can go to Meralco Business Centers and our personnel will assist them accordingly,” said Meralco vice oresident and head of Corporate Communications Joe R. Zaldarriaga.
