• Power rate hike looms

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    After two consecutive months of power reduction, electricity rates for the month of September will go up by 18 centavos per kWh.

    According to Meralco, the increase this September was mainly due to a 13-centavo per kWh increase in the generation charge, following an P8.70 per kWh upward adjustment in the cost of electricity sourced from the Wholesale Electricity Spot Market (WESM).

    WESM prices went up as a result of increases in the trading amount, coupled with higher previous month adjustments, the country’s largest power distributor said. MADELAINE B. MIRAFLOR

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