Meralco cuts rates, bringing charges to lowest in five years
10/07/2009 | 06:28 PM
The Manila Electric Co. (Meralco), the Philippines' largest electricity distributor, will cut rates, bringing charges to their lowest in five years.
Starting October, 11.55 centavos will be shaved off from customers' bills, bringing the rate at P3.9011 per kilowatthour, the lowest in five years, the Lopez-led company said.
The latest rate cut have brought the cumulative reduction at P1.12 per kilowatthour (kWh) since April this year, the company added.
In September, one kilowatthour cost P4.0166. In November 2004, the generation charge was at P4.57 kWh.
With the newly-adjusted rates, consumers using 100 kilowatts of electricity will be able to save P4.55 monthly. Those using 200 kWh will see their bills decline by P15.72.
Meralco's fee cut was brought about by lower generation charges levied by the National Power Corp., the Philippines' largest power producer, and the Wholesale Electricity Spot Market (WESM).
State-led Napocor, which provides 32 percent of Meralco's power requirements, charged seven centavos lower than its previous rates, while WESM's charges fell by 48 centavos per kWh, reflecting an effective rate of P1.9520 per kWh. WESM supplies 13 percent of Meralco's power needs.
For September, independent power producers (IPPs) provided 55 percent of its electricity needs.
Electricity costs sourced from IPPs was also lower by an average of 17 centavos, Meralco's vice president and utility economics head Ivanna de la Peña said. - GMANews.TV
Starting October, 11.55 centavos will be shaved off from customers' bills, bringing the rate at P3.9011 per kilowatthour, the lowest in five years, the Lopez-led company said.
The latest rate cut have brought the cumulative reduction at P1.12 per kilowatthour (kWh) since April this year, the company added.
In September, one kilowatthour cost P4.0166. In November 2004, the generation charge was at P4.57 kWh.
With the newly-adjusted rates, consumers using 100 kilowatts of electricity will be able to save P4.55 monthly. Those using 200 kWh will see their bills decline by P15.72.
Meralco's fee cut was brought about by lower generation charges levied by the National Power Corp., the Philippines' largest power producer, and the Wholesale Electricity Spot Market (WESM).
State-led Napocor, which provides 32 percent of Meralco's power requirements, charged seven centavos lower than its previous rates, while WESM's charges fell by 48 centavos per kWh, reflecting an effective rate of P1.9520 per kWh. WESM supplies 13 percent of Meralco's power needs.
For September, independent power producers (IPPs) provided 55 percent of its electricity needs.
Electricity costs sourced from IPPs was also lower by an average of 17 centavos, Meralco's vice president and utility economics head Ivanna de la Peña said. - GMANews.TV
