Manila Electric Co. (Meralco) warned Thursday that electricity rates in its franchise area may see a slight increase in January.
The utility cited a weaker Philippine peso, which raises costs for dollar-denominated power supply, as the main driver of the potential increase. This could be partially offset by lower Wholesale Electricity Spot Market (WESM) prices in December, Meralco said.
A new Green Energy Auction Allowance of P0.0371 per kilowatt-hour will also appear as a separate line item on bills starting January, following approval by the Energy Regulatory Commission.
Meralco’s final January rate adjustments will be announced next week. The company noted that reduced electricity demand could help keep bills manageable for consumers.
Last month, Meralco cut rates by P0.3557 per kWh, lowering the typical 200 kWh residential bill by about P71.
The utility serves Metro Manila and parts of Bulacan, Cavite, Rizal, Batangas, Laguna, Quezon, and Pampanga.
