February electricity rates up by P0.92 per kWh — Meralco

After a seven-year low overall rate of P8.09 per kilowatt hour (kWh) in January, customers of the Manila Electric Co. (Meralco) will see higher electricity bills this month.

According to Meralco, the rate for its residential customers will go up by P0.92 per kWh in February, bringing the overall rate to P9.00 per kWh.

This translates to an increase of around P184 in the electricity bill of a typical hosuehold consuming 200 kWh.

For those consuming 300 kWh, 400 kWh, and 500 kWh, the upward adjustments would be P276, P368, and P460, respectively.

"The increase this month is mainly due to the upward movement in the generation charge," Meralco said.

The generation charge increased by P0.62 per kWh to P4.32 per kWh as capacity fees, particularly of Pagbilao and Ilijan (power plants) returned to normal levels this February after a record low generation charge of P3.70 per kWh last month "due to a reduction in capacity fees arising from the annual reconciliation of outage allowances that is done at the end of each year, under the contracts approved by the Energy Regulatory Commission (ERC)."

"The remainder of the increase in the generation charge was due to higher fuel prices, partially from the quarterly repricing of Malampaya natural gas, and a slight depreciation of the peso vis-à-vis the US dollar," Meralco noted.

The transmission charge also increased by P0.15 per kWh.

Taxes and other charges similarly went up by P0.15 per kWh.

Meralco’s distribution, supply, and metering charges, meanwhile, have remained unchanged for 19 months, after these registered reductions in July 2015. — MDM, GMA News