THE Manila Electric Co. (Meralco) may announce a reduction in power rates on Monday, September 8.
Meralco spokesman Jose Zaldarriaga said that generation charges may fall, which should lead to a rate reduction for Meralco customers. Generation charges comprise the bulk of the cost of electricity.
“On Monday we will have the final figures,” Zaldarriaga told the Manila Times when asked for the amount of the scheduled power rate reduction.
“Based on the initial data we have, there were less forced outages last month and this will hopefully translate to lower rates in terms of the cost of generation,” he added.
Zaldarriaga, however, said that Meralco still needs to see if this will indeed result in lower rates based on the cost of supply from power generators.
“We have said that as long as supply is adequate there is a strong possibility and pressure for electricity prices to go down,” he said.
In August, Meralco increased electricity rates by 31 centavos per kilowatt hour (kWh) or roughly P62 for the average residential customer with a 200-kwh consumption. This was brought about by a shortfall in the power supply as typhoon “Glenda” damaged transmission lines.
The damages resulted in higher generation and universal charges. The generation charge in August went rose 23 centavos per kWh to P5.64 per kWh from P5.41 the previous month.