Meralco bill for Nov-Dec should be 80% lower, PEMC says

 

In an e-mailed statement Tuesday, Philippine Electricity Market Corporation (PEMC) said WESM's effective settlement prices for November and December declined by 77 percent to P6 to P6.25 per kilowatt hour (kWh) from P25.40 to P28.37.

 

This means Meralco's WESM bill should be P7.22 per kWh or 80 percent lower than the P37.51 per kWh it billed its more than 5 million customers.

 

The rate adjustments translate to a generation charge of P2.43 per kWh in December and P3.02 per kWh in January, according to a report aired over GMA News' "24 Oras" Tuesday night.

 

“PEMC will issue the WESM Bills today using the regulated prices with the exception of Meralco's November bill. Thereafter, we will file our report to the ERC,” PEMC president Melinda L. Ocampo said in a statement.

 

Meralco has yet to receive the revised bill from PEMC but charges will not automatically change just yet, head of utility economics Larry Fernandez told GMA News Online by phone.

 

"It's a directive from ERC. We'll await the guidance from ERC," he said.

 

In a separate text message, Meralco spokesman Joe Zaldarriaga said they will wait for ERC to approve the recalculated billing from PEMC.

 

"We will have to get approval from ERC for the recovery of the amount beyond the P5.67 per kWh that we charged," he said.

 

In January, Meralco maintained its generation charge at P5.67 per kWh even though it was not covered by a temporary restraining order issued by the Supreme Court.

 

Fernandez earlier said Meralco may refund or charge more if the revised WESM bill will be below or over the P5.67 per kWh gen charge.

 

However, he said the 5.33 per kWh rate increase included taxes and other charges, apart from the WESM charges.

 

"WESM bill lang ang magbabago. For other charges, we'll wait for ERC's order," Fernandez said.

‘Asking a criminal what reward it wants’

Bayan Muna Representative Neri Colmenares, meanwhile, was dismayed that the lower power rates recalculated by PEMC were still subject to Meralco's approval.

“PEMC’s decision to [have Meralco approve] the final power rates means the power distributor can still jack up the prices, which is truly absurd,” Colmenares said in a statement.

"It is like asking a criminal what reward it wants."

The lawmaker added that the power rates should not even have been recalculated because the price hike implemented by Meralco was unjustified and illegal.

“Meralco, the generation companies and other power players colluded and jacked up the price of electricity. [For this, they] should be penalized for collusion and market manipulation,” Colmenares said.

Besides sanctions, Meralco and other power distributors should also refund the excess charges paid by customers during the time the rate hike was imposed, the legislator added. –— Xianne Arcangel/VS/DVM, GMA News