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The Manila Electric Company (Meralco) signaled a possible increase in electricity rates in August, partly due to supply restrictions.
The thin supply that triggered yellow and red alerts throughout Luzon in July is expected to push prices in the Wholesale Electricity Spot Market, which facilitates the trading of electricity among suppliers and retailers.
"As we have stated, we have to wait for the actual billings from our suppliers but indications show na posibleng may epekto sa presyo," Meralco spokesperson Joe Zaldarriaga told reporters.
The generation charge for July increased by 28 centavos per kilowatt hour (kWh) due to thin supply. Production restrictions in the Malampaya natural gas facility also forced some power plants to rely on more costly fuels in producing electricity.
Meralco, however, lowered the distribution charge by 18 centavos per kWh on average to offset higher generation costs. This subsequently brought down overall electricity rates in Metro Manila by 2 centavos per kWh.
"The distribution charge will remain unchanged, however, we still need to get the actual rates as far as the generation charge is concerned to get a view on actual overall rates for August," Zaldarriaga told GMA News Online on Wednesday. —ALG, GMA News