Manila Electric Co. announced Wednesday a rate reduction of P0.2908 per kilowatt-hour in August 2023.
This brought down the overall rate for a typical household to P10.8991 per kWh from P11.1899 per kWh previously.
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Residential customers consuming an average or 200 kWh will experience a decrease of around P58 in their monthly electricity bill.
Meralco said that with the latest adjustment, the combined reduction over the past two months reached P1.0121 per kWh.
Meralco said the overall rate decrease was due to lower generation charge.
The generation charge registered its third consecutive reduction this month, going down by P0.2137 to P6.3929 per kWh from P6.6066 per kWh in July.
