MANILA, -- Electricity rates will decrease by 27 centavos per kilowatt-hour (kWh) this month due to a drop in generation charge, the Manila Electric Co. said Thursday.
According to a statement from the power firm, the overall new rate is PHP8.09 per kWh, down from PHP8.36 per kWh last month.
Meralco said the decrease in generation charge resulted from the 59-centavo-per-kWh decrease in the cost of power supplied under power supply agreements (PSA), mainly from the Pagbilao and Ilijan power plants. The generation charge, which is the lowest since 2004, amounts to PHP3.70 per kWh, down from PHP3.93 per kWh last month.
Meralco sourced 39.7 percent of its capacity from PSAs, 38.4 percent from Independent Power Producers, and 21.8 percent from the Wholesale Electricity Spot Market.
The transmission charge of residential customers meanwhile increased by PHP0.0042 per kWh, while taxes and other charges dropped by PHP0.0394 per kWh.
Meralco pointed out that its distribution, supply, and metering charges have remained constant in the past 18 months. (PNA)
Source: Philippines News Agency