Meralco expects lower October electricity bills

By Gabriell Christel Galang – Oct 8, 2024 05:21 PM
from Manila Bulletin

Power utility firm Manila Electric Company (Meralco) has announced a potential reduction in consumers’ electricity bills for October.

Joe Zaldarriaga, Meralco head of corporate communications, explained that the expected price cuts may be attributed to lower charges in the wholesale electricity spot market (WESM), which have adjusted in response to cooler temperatures last month.

Additionally, Zaldarriaga noted that the deferred WESM prices from May concluded in September.

While this is only an initial indication, Meralco is optimistic about lower WESM charges that could help mitigate the impact of the new Gas Sale Purchase Agreements for the First Gas plants: Sta. Rita and San Lorenzo, as mandated by the Energy Regulatory Commission (ERC).

Last month, Meralco’s billing increased by P0.15 per kilowatt-hour (kWh), raising consumers’ rates to P11.7882/kWh.

This increase was driven by a change in the transmission charge from the National Grid Corporation of the Philippines (NGCP) for ancillary services.