Meralco cuts electricity rates in January

by Alvin Elchico, ABS-CBN News

Posted at Feb 07 2013 03:06 PM | Updated as of Feb 08 2013 05:38 PM

MANILA, Philippines - Manila Electric Co. (Meralco) said its generation charge is down by P0.55/kwh this month after the firm inked new power agreements with various suppliers.

Moreover, other charges tucked in the generation charge also declined in January, making the overall reduction amount to P0.58/kwh.

For the new contracts alone, the generation charge went down by P1.10/kwh versus last month but transmission charges increased due to the Energy Regulatory Commission- (ERC) approved hike granted to the National Grid Corp. of the Philippines. Power prices from independent power suppliers of Meralco also climbed by P0.28/kwh.

The cut in this month's electricity rates result in a reduction of P58 for consumers using 100 kwh, and P288 for those using 500 kwh.