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In February, Meralco lowers electricity prices.

This month, the Manila Electric Company (Meralco) will reduce its rates for electricity due to decreased generation and transmission costs.

Joe Zaldarriaga, a representative for Meralco, announced Friday that the distribution utility firm will lower power tariffs by PHP0.0106 per kilowatt hour (kWh).

According to him, the cost of electricity in February will be PHP10.8895 per kWh, down from PHP10.9001 in January.

For households using 200 kWh of electricity, the modification will result in a PHP2 decrease in electricity bills.

According to Zaldarriaga, the cost of producing electricity decreased by PHP0.2137 to PHP6.9154 per kWh from PHP7.1291 per kWh as a result of lower pricing in the Independent Power Producers (IPPs) and Wholesale Electricity Spot Market (WESM), where Meralco purchased the energy needed by its clients.

Higher fees from power supply agreements have been mitigated by lower generation costs from WESM and IPPs.

The ongoing strengthening of the Philippine peso, which affects 95% of the IPP costs, which are expressed in dollars, was cited as a factor in the decrease.

He stated that this month, Meralco gets 47% of its power from PSAs, 37% from IPPs, and 16% from WESM.

According to Zaldarriaga, Meralco is still executing a distribution-related return for residential customers equal to PHP0.8656 per kWh, which lowers this month’s power rates.

Up to May 2023, Meralco will continue to offer this reimbursement.

The Malampaya gas field was shut down for repairs from February 4 to February 18, but according to Zaldarriaga, there is still enough power to go around and this month’s energy bills won’t be affected.

Customers will, however, begin to feel the effects of the Malampaya shutdown next month along with the anticipated rise in electricity prices since the dry season typically begins in March.

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