MERALCO RATES DOWN IN SEPTEMBER FOR FIFTH STRAIGHT MONTH
The Manila Electric Co. (Meralco) on Wednesday announced a slight reduction in power rates for September, marking the fifth straight month of downward adjustments to bring rates to the three-year lows.
Meralco said it would decrease power rates by 6.23 centavos per kilowatt-hour to P8.4288/kWh in September from P8.4911/kWh in August.
This means that a typical household consuming 200 kWh will pay P12 less for electricity for September versus that paid last month.
According to the company, rates for September this year are the lowest in three years or since September 2017.
Meralco attributed the lower rates to the force majeure implemented due to the decline in demand. This led to lower generation charges, which decreased for the sixth straight month by 3.81 centavos to P4.0860/kWh from P4.1241/kWh in August.