Power rates likely steady this month

By Alena Mae S. Flores – July 07, 2019
from manilastandard.net

Power rates of Manila Electric Co. will likely remain steady this month on several factors that mitigated the higher charges at the Wholesale Electricity Spot Market amid power plant outages experienced by the Luzon grid and the higher universal charges.

Meralco vice president and head of utility economics Lawrence Fernandez said the Energy Regulatory Commission also recently approved an increase in the universal charges in the customers’ power bills.

“There are factors that will push up rates, such as the recently approved increase in the universal charge and higher charges from the WESM due to plant outages,” Fernandez said.

“However, other factors may serve to mitigate an increase, such as the ERC-directed refund and the strengthening of the peso. July rate change likely to remain flat,” Fernandez said.

The ERC allowed state-run Power Sector Assets and Liabilities Management Corp. to recover from customers P0.0543 per kilowatt-hour for 12 months starting July to cover P5.12 billion under the universal charge for stranded contract costs.