MANILA, Philippines – Manila Electric Co. (Meralco) is seeking approval from the Energy Regulatory Commission (ERC) to adjust its maximum average price for regulatory year 2015, which is from July 2014 to June 2015.
From P1.65 per kilowatt hour, Meralco proposes to reduce it to P1.56/kWh or a reduction of P0.09/kWh in its average distribution charge.
For a residential customer who pays a higher distribution charge from industrial or commercial user, the reduction will be P0.15/kWh or a distribution charge of P2.20/kWh from the current P2.35/kWh.
Meanwhile, Meralco has also filed with the ERC an application to refund consumers of P0.03/kWh payable over 6 months for the over-recovery in pass through charges in generation, transmission, system loss, lifeline and senior citizen subsidies covering January 2012 to October 2013.
Meralco will have to wait for the ERC to decide on both petitions where the regulator may still validate and recalculate and change the reductions.
Meralco said it is still studying if the generation charge for April will go up, hinting that if spot market prices are up in March versus February figures, April prices will likely increase.
The firm said it may have a clearer picture by Thursday when it meets industries who will likely participate in the interruptible load program this summer.
The utility also clarified that the interruptible load program will only kick in when electricity supply in Luzon becomes deficient and not before or during yellow alert when power reserves become thin.