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Good News: Expect Lower Electricity Prices From Meralco This Holiday Season
(Philstar.com) – December 17, 2020 – 9:49 am
MANILA, Philippines – The Manila Electric Company (Meralco) today announced another downward adjustment to energy rates, as the overall rate for a typical home decreased by P0.0352 per kWh, from P8.5105 per kWh for the month passed to P8.4753 per kWh this December.
This equates to a decrease of around P7 in the total bill for residential customers consuming 200kWh.
This month’s general rate is also a net rate reduction of P1.3870 per kWh, equivalent to a bill reduction of more than P277 for a 200kWh household, from the beginning of the year. This is the second lowest overall energy rate since September 2017.
Lower generation load
From P4.2018 per kWh in November, the generation charge decreased by P0.0502 per kWh to P4.1516 per kWh in December. All supply sources posted lower rates this month.
Meralco said there was a reduction of P0.1881 per kWh in the charges of the Wholesale Electricity Spot Market (WESM). The electricity supply situation of the Luzon network improved in November after a fall in demand that decreased due to successive weather changes.
From the October peak demand of 10,344 MW, the November 2020 peak demand decreased to 9,886 MW. Additionally, due to the effects of Typhoon Ulysses, ERC suspended WESM from November 12-13.
The cost of energy from independent power producers (IPP) also decreased by P0.2577 per kWh due to the improvement in average dispatch from the plant and the appreciation of the peso. Charges for power supply agreements (PSA) also fell by P0.0214 per kWh with the strengthening of the peso against the US dollar.
WESM, IPP and PSA accounted for 9%, 39% and 52% of Meralco’s energy requirements, respectively.
Movements in other positions
The transmission charge for residential customers registered a slight reduction of P0.0044 per kWh due to lower charges for power supply and ancillary services. Meanwhile, taxes and other charges registered a net increase of P0.0194 per kWh.
The collection of the Universal Charge-Environmental Charge amounting to P0.0025 per kWh remains suspended, according to the instructions of the ERC.
Meanwhile, Meralco’s distribution, supply and metering charges have been unchanged for 65 months, following these reductions recorded in July 2015.
The company reiterated that it does not win from transfer charges, such as generation and transmission charges.
The payment of the generation charge goes to the energy providers, while the payment of the transmission charge goes to the NGCP. Taxes and other public policy charges such as the Universal Charges and the FIT-All are remitted to the government.
Continuous service during GCQ
Customers can visit their nearest Meralco Business Center, which will continue to open its doors during the General Community Quarantine (GCQ) and will accept service requests, payments and other transactions.
Strict security measures continue to be implemented, such as the “No mask, no entry” rule, social distancing and temperature control.
Leaders are available and ready but strictly follow social distancing guidelines. Customers can rest assured that these pioneers have passed the COVID-19 rapid test authorized by the Pasig City Health Office. There are also acrylic barriers installed at Meralco branches to protect both the customer and front-line personnel.
For added security and convenience, Meralco still encourages customers to use Meralco Online to transact from the safety of their homes.
The distribution utility has also offered multiple options for transactions, including the Meralco mobile app via https://onelink.to/
For more information and concerns, customers can visit Meralco’s website at www.meralco.com.ph, their social media accounts, twitter @MERALCO and Facebook at www.facebook.com/meralco or you can also call the Meralco hotline at 16211.
DISCLAIMER: This is a press release from Meralco.
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