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Meralco, the country’s largest power distributor, said Monday the overall rate for a typical household fell by ₱0.0737 to ₱9.8628 per kilowatt-hour (kWh) from ₱9.9365 per kWh last month.
The firm attributed the slash in power rate to lower Feed-in-Tariff Allowance (FIT-All), which was reduced by ₱0.0619.
“This came as the Energy Regulatory Commission (ERC), in a Resolution dated August 30, 2022, approved the collection of a ₱0.0364 FIT-All per kWh starting the October 2022 billing period, down from ₱0.0983 per kWh previously implemented,” it said.
Meralco also noted that it recorded a decrease in charges from independent power producers (IPPs) and power supply agreements (PSAs), down by ₱0.5073 and ₱0.0702 per kWh, respectively. This subsequently pulled down the generation charge by ₱0.0201 per kWh to ₱6.9192 from ₱6.9393 per kWh in September.
“The lower IPP and PSA charges were able to more than offset higher charges from the Wholesale Electricity Spot Market (WESM), which rose by ₱4.8128 to ₱11.9990 per kWh due to tight supply conditions in the Luzon grid,” Meralco said.
The generation charge covers the cost of power purchased by the company from its suppliers, such as IPPs, PSAs, and the wholesale electricity spot market (WESM).
On Monday, Meralco also assured the public that it would “exhaust all remedies” to keep its agreements with South Premiere Power Corporation (SPPC) and San Miguel Energy Corporation (SMEC) after the ERC denied their petitions for a rate increase.
“We believe that preserving these contracts will still be least-cost for our customers,” said Atty. Jose Ronald V. Valles, Meralco first vice president and head of the Regulatory Management Office.
Meralco’s franchise area covers Metro Manila, the provinces of Bulacan, Rizal, and Cavite, as well as parts of Laguna, Quezon, Batangas, and Pampanga.
Source: https://www.cnnphilippines.com/news/2022/10/10/Meralco-electricity-rates-October.html