Manila Electric Co. (Meralco) announced Sunday that electricity rates in its service area will likely decrease this August, ahead of the official rate adjustment set to be released on August 10. The company said a newly approved refund from the Energy Regulatory Commission (ERC) will be enough to cover other upward adjustments in monthly bills.
The new refund amounts to P0.59 per kilowatt-hour (kWh) for residential customers, and will be added to an existing refund already being applied to bills. Meralco explained this amount offsets several scheduled increases for the month, including higher reserve market prices from National Grid Corporation of the Philippines suppliers, an increased feed-in tariff allowance, and approved collection of pass-through under-recoveries.
Meralco noted the expected reduction will provide relief to consumers, alongside lower overall power demand recorded in the Luzon grid by the Independent Electricity Market Operator of the Philippines. The company also urged customers to keep practicing energy efficiency.
Last July, rates rose by P0.3428 per kWh due to higher generation charges, bringing total rates to P14.8261 per kWh. That increase added roughly P69 to the monthly bill of a typical residential customer using 200 kWh. Meralco serves the entire National Capital Region, Rizal, Bulacan, Cavite, parts of Laguna and Quezon, and three towns in Batangas.
