MANILA - Consumers are in for some good news as fuel and electricity prices are expected to dip soon.

Meralco Spokesman Joe Zaldarriaga said he sees a significant reduction in overall electricity rates in the coming December billing.

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Zaldarriaga said there is dip in electricity prices at the wholesale electricity spot market due to minimal outages of power plants.

Demand is also going down as temperatures drop due to seasonality with power consumption going down by 400 MW.

Zaldarriaga estimates the reduction to be more than P0.50/kwh though the price inputs are not yet final.

The utility is set to announce the actual rate adjustment by Tuesday, December 12.

BILL DEPOSIT

Meralco has also explained that some consumers by now have already received a notice about their bill deposit.

Zaldarriaga said the Energy Regulatory Commission has already given the go signal to resume the updating of bill deposits.

If a consumer's 12-month average consumption is higher than the previous year, the required bill deposit will be higher but the difference, which will be charged to the consumers, is going to be spread out over a 12-month period.

If a consumer's 12-month average consumption is lower than the previous year, the required bill deposit will be lower.

This means that a consumer will get an outright refund which will then be deducted from the current billing.

HEFTY ROLLBACK EXPECTED NEXT WEEK

Based on the first 4 trading days in the mean of PLATTS Singapore, diesel price is down by almost P2 per liter, gasoline price is also down by P1.81 per liter while kerosene is lower by P1.34.

Jetti Petroleum President Leo Bellas said MOPS (Mean of Platts. Singapore) prices are likely to be down again today due to weaker fuel demand worldwide.

The Department of Energy, through Director Rino Abad, said lower prices may persist until early next year barring any geopolitical issues that can affect volatile world fuel prices.

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