NextGen Day

On Monday, the Manila Electric Co. (Meralco) announced that electricity rates in its franchise areas for this month would be reduced by PHP0.7213 per kilowatt-hour (kWh), bringing the rate to PHP11.1899 kWh.

This decrease follows last month’s rate of PHP11.9112 per kWh.

Meralco stated that the generation charges have declined for two consecutive months, resulting in lower power rates for July.

“The generation charge dropped by PHP0.6436 per kWh to PHP6.6066 per kWh this July, down from PHP7.2502 per kWh in June,” Meralco explained.

The decline in charges from the Wholesale Electricity Spot Market (WESM) contributed to this reduction, as there was lower demand during the rainy season.

Charges from power supply agreements (PSAs) and independent power producers (IPPs) also decreased by PHP0.3915 and PHP0.4658 per kWh, respectively. This can be attributed to lower coal prices and a stronger Philippine peso against the US dollar.

Furthermore, Meralco reported a net reduction in transmission and other charges for this month.

For households in Meralco franchise areas consuming 200 kWh per month, the latest rate cut will decrease PHP144 in their electricity bill.

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