Electricity rates are expected to go up starting June next year after all the distribution-related refunds now being implemented by the Manila Electric Company (Meralco) are completed by May 2023. Know more:
ELECTRICITY rates are expected to go up starting June next year after all the distribution-related refunds now being implemented by the Manila Electric Company are completed by May 2023.
DRTU-1 worth P13.89 billion was implemented in March 2021. The average refund rate of P0.27 per kilowatt hour for residential customers will end in December this year. “DRTU-3 is expected to be completed this November so that 47-c/kwh deduction in residential rates will not be present starting December. In January and February 2023, the deductions of 28 and 19 centavos per kwh, respectively, will go away,” said Fernandez.
“Currently, the refunds being experienced by residential customers of Meralco total P1.80 per kwh. Once all four refunds are completed by May, the total increase that will be felt by households will similarly be P1.80 per kwh,” said Fernandez.To help reduce electricity rates, the ERC said it is crafting a resolution on the possible three-month suspension of FIT-All rates.
“We are still studying other pending adjustments related to over and under calculations. Hopefully, there could be more refund. That’s why we are studying everything, including the FITAll suspension [so there is a buffer],” she said. “It could be suspended for three months and, hopefully, that will help cushion or reduce the power rates,”Dimalanta added.
“It is small that’s why we are still looking for more that could help bring down overall rates. At the same time, we are reviewing fuel costs that are being passed on by non-RE generators. If, upon review, we find out that there is no basis to pass this on then that will translate in a reduction also,” she added.Meanwhile, Dimalanta said SMC Global Power Holdings Corp.
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