Power rates up this month

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After lowering its rates for the months of July and August, the Manila Electric Company (Meralco) consumers will now have to brace for an increase in their September electricity bills.

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After a cumulative reduction of 65 centavos per kilowatt hour in the past two months, electricity rates for the month of September will go up by 18 centavos per kWh, Meralco said.

According to the country’s largest power distributor, 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).

Despite the increase, Meralco noted that this month’s generation charge at P5.17 per kWh is still 62 centavos lower than the January 2013 level of P5.79 per kWh, reflective of costs in December 2012 prior to the effectivity of the Power Supply Agreements (PSAs).

Meanwhile, the transmission charge and other charges increased by eight centavos and 1 centavo per kWh, respectively, mainly due to higher cost of ancillary service charges.

The rates of the new Power Supply Agreements (PSAs) and Independent Power Producers (IPPs), on the other hand, went down by three centavos per kWh as a result of improved capacity in some plants and lower coal prices, offsetting the impact of a slight depreciation of the peso against the US dollar.

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