The Manila Electric Co. (MERALCO) has announced a PHP 0.5006 per kWh drop in overall electricity rates for September 2023, reaching an adjusted typical household rate of PHP 11.3997 per kWh and an adjustment equivalent to around Php 100 increase in a household consuming 200 kWh.
According to Meralco, a PHP 0.4323 increase in power generation charges was recorded, bringing it to PHP 6.8252 compared to PHP 6.3929 last August, mainly driven by higher costs from Power Supply Agreements (PSAs) and Independent Power Producers (IPPs).
PSAs, which account for 39 percent of the energy share, showed an increase of PHP 1.0362 from last month’s rate due to higher fuel prices and the depreciation of peso.
Meanwhile for the IPPs, accounting for 36 percent of Meralco’s energy requirement, charges went up by PHP 0.4776 per kWh to PHP 7.1369 per kWh
On the other hand, the Wholesale Electricity Spot Market (WESM) charges dropped by PHP 0.5034 per kWh.
This increase in power rates by September will also cause a PHP 150 increase in a household consuming 300 kWh on average, a PHP 200 increase for consumers with PHP 400 kWh, and a PHP 250 increase for those who consume 500 kWh.
As of September 6, 2023, a total of 14,377 4P customers and 5,737 non-4P consumers have been approved for the Lifeline Rate Program, bringing in a total of 20,114 families granted to the subsidized rate.
