THE Manila Electric Co. (Meralco) will reduce its power rates this month by 29 centavos per kilowatthour (kWh).
This will translate to a P58 decrease in the total bill of a residential household consuming 200 kWh, P87 for 300 kWh, P116 for 400 kWh, and P145 for 500 kWh.
The power firm said that the rate reduction was mainly due to lower generation charge and the decrease in the cost of power sourced from Independent Power Producers (IPPs) and Power Supply Agreements.
The overall generation charge decreased by 0.2126 centavos per kWh, from P5.0965 per kWh in April to P4.8839 per kWh for this month. The cost of power sourced from IPPs and PSAs decreased by 87 centavos and 14 centavos per kWh, respectively.