Power rates will increase by more than P2 this month due to higher generation charge as pump prices decline after four weeks of price hikes.
Meralco said its customers can expect a P2.1496 per kilowatt hour increase in electricity rates in July following artificially low rates last month.
The power rate hike will bring the overall rate for a typical household to P11.6012 from P9.4516 per kWh in June.
Meanwhile, oil firms rolled back fuel prices at 6 a.m. today (Tuesday), ending four weeks of consecutive price increases.
Diesel prices went down by P0.95 per liter, gasoline by P0.60 per liter, and kerosene by P1.15 per liter to reflect the movement of prices in the world market last week.
Domestic pump prices rose for four consecutive weeks prior to the rollback for a total of P4.80 per liter increase in the prices of diesel and gasoline, and P3.90 per liter increase in kerosene.
Year-to-date total adjustment of gasoline, diesel and kerosene stood at a net increase of P10.85 per liter, P9.05 per liter and P2.35 per liter, respectively.
Meralco said residential customers consuming an average of 200 kWh will have an equivalent increase of around P430 in their total electricity bill.
Energy Regulatory Commission chairperson Monalisa Dimalanta said the higher rates in July was “higher than expected.”
“The bulk of Meralco’s supply comes from its IPPs (Independent Power Producers). Admittedly, though, the P2.0021 per kWh generation rate increase is higher than expected. In any event, the rates are subject to the Commission’s validation pursuant to our cost adjustment regulations,”Dimalanta said.
For his part, Meralco vice president and head of corporate communications Joe Zaldarriaga appealed for understanding over the delayed delivery of electric bills as the company sought guidance from the ERC on the implementation of this month’s rate adjustment.
“Rest assured that Meralco will adjust the due dates to give our customers enough time to settle their bills,” he said.
The higher July rates followed a significant reduction in rates amounting to P1.9623 per kilowatt hour in June.
According to Meralco, the generation charge went up in July by P2.0021 per kWh as charges at the Wholesale Electricity Spot Market (WESM) returned to normal levels as a result of the ERC’s directive to stagger the collection of the charges for the May supply month in four equal monthly installments until September 2024.
