The summer heat will somehow be eased, as customers of Manila Electric Company (Meralco) are expected to enjoy reduction in their electric bills this month. ManilaBulletin
There was preliminary expectation of a rate hike, but in the final computation, there were factors that ended up pulling down the overall cost adjustment despite the remaining portion of a staggered pass-on rate from the shutdown of the Malampaya gas field.
Zaldarriaga added that lower charges from the Wholesale Electricity Spot Market served as a “mitigating factor” to what could have been an uptick in the electric bills this month. The other key element which triggered decline in electricity tariffs this month had been the appreciating value of the Philippine peso versus the US dollar; as this was able to temper cost impact also on the generation charge, the biggest component of the pass-on rate in the bills. This particularly affects the dollar-indexed costs of contracted capacities from the independent power producers.
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