Filtered By: Money
Money

Meralco customers to enjoy lower power bills in August


Customers of the Manila Electric Co. (Meralco) will enjoy reduced bills in August after power generation costs have plunged to their lowest in more than five years. Lower wet season rates charged by the National Power Corp. (Napocor) and higher dispatch of independent power plants have cut Meralco’s rates by 16.34 centavos per kilowatt hour (kWh), the company said in a statement. Both Napocor and power plants sell electricity to Meralco. Meanwhile, prices at the wholesale electricity spot market (WESM) also remained stable, Meralco’s vice-president for utility economics Ivanna dela Peña said. Power generation charges – which are merely passed on by Meralco to its customers – have fallen to P4.10 per kWh, the lowest since October 2004, dela Peña said. “Customers will welcome this development since a reduction in their electricity bills will mean more purchasing power at their disposal," she added. Meralco’s generation charge has continuously been on a downtrend since May. Napocor's basic generation rate hike in Luzon of P1.23 per kWh was reflected in the bills of Meralco’s customers starting November 2004. Savings incurred by Meralco from cheaper power generation are passed on to its customers in the form of lower electricity bills. “We try to obtain the optimal mix that will redound to the benefit of all Meralco customers," Meralco’s external communications manager Joe R. Zaldarriaga said. - GMANews.TV

LOADING CONTENT