The Manila Electric Company (MERALCO) said that power rates may go down once more this coming March following the Php13.9 billion refund recently approved by the Energy Regulatory Commission (ERC).
MERALCO vice president and spokesman Joe Zaldarriaga said that while the company is still awaiting final billing from suppliers, there is a high chance that rates would go down based on initial projections.
The refund, which was approved last week, would translate to an average refund of Php0.1528 per kilowatt hour (kWh) per month.
MERALCO’s refund rate will be reflected as a separate line item in customers’ electric bills during the refund period, which would run for the next 24 months.
This will be the second straight month that the power giant would be reducing rates. Earlier this month, the utility firm’s power rates declined by Php0.0704/kWh to Php8.6793/kWh due to lower generation cost.