Meralco announces higher power rate for February
The Manila Electric Company (Meralco) has again hiked the power rate in its franchise areas for February, according to a report by Philippine News Agency.
Meralco announced Thursday that electricity charges for the month increased by PHP0.5738 per kilowatt hour to PHP11.9168 per kWh from PHP11.3430 per kWh in January.
“For residential customers consuming 200 kWh, the adjustment is equivalent to an increase of around PHP115 in their total electricity bill,” it said in a statement.
Meralco attributed the rate increase to higher fuel prices and peso depreciation, driving the upward adjustments on generation charges.
Generation charges for February increased by PHP0.4552 to PHP7.1020 per kWh from PHP6,648 per kWh in the previous month.
Rates from Independent Power Producers (IPPs) went up by PHP1.4764 per kWh, while charges from Power Supply Agreements (PSAs) increased by PHP0.1558 per kWh.
On the other hand, Wholesale Electricity Spot Market (WESM) charges tempered the rate hike as it decreased power charges by PHP0.4071 per kWh for February.
Meralco sources 46.8 percent of its power requirement from PSAs, 32.8 percent from IPPs, and 20.4 percent from WESM last month.
Meanwhile, transmission and other charges registered a net increase of PHP0.1186 per kWh, reflecting the resumption of Feed-In Tariff Allowance (FIT-All) starting this month as ordered by the Energy Regulatory Commission.
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