NextGen Day

Residential customers in Manila Electric Company (Meralco) franchise zones who use 200-kilowatt hours (KWh) per month can anticipate a PHP125 increase in their January electricity bill.

This is because, on Tuesday, Meralco announced an increase of PHP0.6232 per kWh this month, bringing power prices to PHP10.9001 per kWh.

According to Meralco, the completion of the refund relating to the distribution and higher generation costs caused an increase in electricity tariffs in January.

According to a statement, “The generation charge increased by PHP0.3316 to PHP7.1291 from PHP6.7975 per kWh the previous month.”

Due to a lack of natural gas from Malampaya, independent power producers (IPPS), such as First Gas Sta. Rita and San Lorenzo, are now charging more, according to the distribution utility.

In December 2022, IPPs provided 46% of Meralco’s power needs.

According to Meralco, this month’s hike was also brought on by higher spot pricing at the Wholesale Electricity Spot Market, which rose by PHP0.6808 per kWh.

“WESM’s energy share increased slightly this month from 7 percent to 9 percent. Meralco was forced to partially source replacement power from WESM due to the suspension of the Power Supply Agreement (PSA) with South Premiere Power Corporation (SPPC) for 670-MW baseload supply beginning December 7, 2022 as a result of the implementation of a Court of Appeals Temporary Restraining Order, it said.

Additionally, Meralco claimed to have finished the P0.2761 per kWh rebate, which also contributed to this month’s increased electricity prices.

“Meralco continues to execute two continuous reimbursements of PHP1.0579 per kWh for residential users, which lowers consumers’ monthly bills. The impact will be realized in the next billing months, February 2023 and June 2023, respectively. These refunds are anticipated to be finished by January 2023 and May 2023.

However, lower PSA and transmission fees, the suspension of the Feed-In Tariff Allowance (FIT-All) collection, and the peso’s strengthening limited the additional rise in power prices for January.

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