TYPICAL HOUSEHOLDS in Metro Manila can expect their monthly electricity bills to go up by around P125 this month, after Meralco said it will hike the overall rate due to an increase in the generation charge and the completion of refunds.
In a statement on Tuesday, Meralco said the overall rate for a typical household increased by P0.6232 per kilowatt-hour to P10.9001 per kWh in January, from P10.2769 per kWh in December.
However, the peso appreciation, which affected 97% of IPP costs that are dollar-denominated, tempered the further increase of power rates.The peso closed at P55.76 against US dollar on Dec. 29, 2022 gaining 88 centavos from its close of P56.64 per dollar on Nov. 28, 2022. SPPC’s deal with Meralco had covered 670 megawatts of capacity for a period of 10 years starting in 2019 at P4.2455 per kWh.
Lawrence S. Fernandez, vice-president and head of utility economics of Meralco, said that it cannot say at the moment whether AboitizPower will extend its contract with Meralco.
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