MANILA, Philippines - Customers of power distributor Manila Electric Co. (Meralco) will enjoy a P1.10 per kilowatt-hour reduction in their electricity bills this month, owing to lower generation charge.
Meralco said the generation charge for October went down to P4.31 per kWh from P5.41 per kWh.
"This is extraordinary and unprecedented because of many factors, confluence of positive developments," said Ivanna dela Pena, head for utility economics at Meralco.
Dela Pena said the drop was due to the decline in the cost of power from independent power producers (IPPs) that had higher dispatch levels. Rates of the National Power Corp. (Napocor) also fell.
"The dispatch of the IPPs were at a record high of 93.9%, an improvement of 2.8% from the 91.1% registered in August," she added.
The generation charge accounts for bulk or 60% of the monthly electricity bill. - Niña Corpuz, ABS-CBN News