Meralco customers to enjoy lower December bills
12/07/2009 | 05:33 PM
Manila Electric Co. (Meralco) customers may see a cut in their bills this month as a result of lower generation charges, the power distributor said on Monday.
Customers consuming 100 kilowatt-hour (kWh) will see their monthly bills go down by P3.84, while those who consume 200 kWh will enjoy a P7.82 cut. Those using 300 kWh will save as much as P11.74.
“With the 2.6-centavo reduction in the generation charge and adjustments in the other rate components, our customers will in fact see a net reduction in their bills this December," said Ivanna de la Peña, Meralco vice president and utility economics head.
Meralco customers will enjoy a 2.6-centavo per kilowatt-hour (kWh) cut in generation charges this month due to improved delivery by the firm's independent power producers (IPP).
Meralco obtains a portion of its power requirements from its IPPs, namely the San Lorenzo and Sta. Rita natural gas-fired power plants run by Lopez-owned First Gas Corp.
From P4.2286 per kWh in November, the generation charge was computed at P4.2029 per kwh this month.
“Amidst rising prices of goods and commodities, the generation charge has generally been on the decline over the past months," de la Peña said.
She added that generation charges have gone down by 81.76 centavos per kilowatt-hour since April.
P5.5-B BORROWING
Meanwhile, Meralco will borrow P5.5 billion next week to finance its capital requirements.
The power distributor told the stock exchange on Monday its board had approved the issuance of the multibillion corporate notes.
The utility will issue the notes on December 14 with First Metro Investment Corporation as the lead arranger.
Meralco Treasurer Rafael Andrada said the P5.5 billion is part of their P11-billion refinancing plan set for the remainder of the year. He said the company would most likely raise the remaining half next year.
Meralco is the country's largest private power distributor with over 4.6 million customers in Metro Manila, Bulacan, Cavite, Rizal, and parts of Batangas, Laguna, Quezon and Pampanga. — GMANews.TV
Customers consuming 100 kilowatt-hour (kWh) will see their monthly bills go down by P3.84, while those who consume 200 kWh will enjoy a P7.82 cut. Those using 300 kWh will save as much as P11.74.
“With the 2.6-centavo reduction in the generation charge and adjustments in the other rate components, our customers will in fact see a net reduction in their bills this December," said Ivanna de la Peña, Meralco vice president and utility economics head.
Meralco customers will enjoy a 2.6-centavo per kilowatt-hour (kWh) cut in generation charges this month due to improved delivery by the firm's independent power producers (IPP).
Meralco obtains a portion of its power requirements from its IPPs, namely the San Lorenzo and Sta. Rita natural gas-fired power plants run by Lopez-owned First Gas Corp.
From P4.2286 per kWh in November, the generation charge was computed at P4.2029 per kwh this month.
“Amidst rising prices of goods and commodities, the generation charge has generally been on the decline over the past months," de la Peña said.
She added that generation charges have gone down by 81.76 centavos per kilowatt-hour since April.
P5.5-B BORROWING
Meanwhile, Meralco will borrow P5.5 billion next week to finance its capital requirements.
The power distributor told the stock exchange on Monday its board had approved the issuance of the multibillion corporate notes.
The utility will issue the notes on December 14 with First Metro Investment Corporation as the lead arranger.
Meralco Treasurer Rafael Andrada said the P5.5 billion is part of their P11-billion refinancing plan set for the remainder of the year. He said the company would most likely raise the remaining half next year.
Meralco is the country's largest private power distributor with over 4.6 million customers in Metro Manila, Bulacan, Cavite, Rizal, and parts of Batangas, Laguna, Quezon and Pampanga. — GMANews.TV
