Meralco rates down in August 2022

The Manila Electric Co. (Meralco) on Monday announced another reduction in its rates for the month of August, as the company continues to implement the refund ordered by the Energy Regulatory Commission (ERC).

Meralco said the overall rate for a typical household was cut down by 20.87 centavos per kilowatt-hour this month to P9.5458/kWh from last month’s P9.7545/kWh.

This translates to a decrease of around P42 in the total bill of a residential customer consuming 200 kWh.

The ERC last month ordered Meralco to refund some P21.8 billion for a period of 12 months, or until the amount is fully refunded. This translated to 86.56 centavos per kilowatt-hour for last month’s bill.

“The implementation of distribution-related refunds totaling P48.3 billion as ordered by the ERC continues to temper customers’ monthly bills. This is equivalent to a total refund rate of P1.8009 per kWh for residential customers,” Meralco said in an emailed statement.

The generation charge for August was also slashed by 19.44 centavos to P6.5812/kWh from P6.7756/kWh in the past month, following lower charges from power supply agreements (PSAs).

Meanwhile transmission charges for residential customers increased by 2.35 centavos/kWh while other charges registered a net decrease of P0.0018/kWh.

“With the ongoing rainy season, Meralco advises its customers to practice safety measures and prepare for floods or typhoons,” the power distributor said.

“Customers are urged to charge mobile phones, flashlights, and other important gadgets or rechargeable appliances,” it added.

The company reported a core net income of P5.62 billion in the first semester of the year, indicating a 10% increase from the same period last year.

The firm constructs, operates, and maintains electric distribution systems in the cities and municipalities of Bulacan, Cavite, Metro Manila, and Rizal, as well as certain areas in the provinces of Batangas, Laguna, Pampanga, and Quezon.

Meralco counts as subsidiaries and associates Vantage Energy Solutions and Management Inc. and MeridianX Inc., acting as retail electricity suppliers in Luzon and the Visayas. —KG, GMA News