The Manila Electric Co. (MERALCO) announced a reduction in electricity bills for the third consecutive month.
In its official Facebook page, Meralco announced a P0.12 per kilowatt hour reduction for the month of October. This equates to a P24 reduction on households’ consuming 200 kWh.
Meralco recently said that they’re looking at stable generation charges this month despite the continuous rise of the peso-dollar exchange rate and high coal prices.
“We are seeing a strong possibility that lower charges from the WESM [wholesale electricity spot market] may be able to offset the upward pressure of the peso depreciation and higher coal prices,” Lawrence Fernandez, Meralco senior vice president and utility economics head said.
Meralco had slightly lower power rates in September as residential rates went down by P.00451 per kWh, making rates at P8.46 per kWh that reflects a reduction of P9 in household electricity bills.
The reduction was due to downward movement in transmission charges.
The power distributor’s had reductions on its rates despite yellow and red alerts recorded in July and early August.