POWER RATES DOWN DESPITE RISE IN SPOT MARKET PRICES

Meralco announced that power rates decreased by Php 0.27 per kilowatthour (kWh) this month for a typical household. For residential customers consuming 200 kWh per month, Meralco customers will enjoy a reduction of Php 55 in their electricity bills.

Meralco Public Information Office Head Joe Zaldarriaga (in photo) explained that the overall rate decrease can be attributed to lower cost of power from Power Supply Agreements (PSAs) and Independent Power Producers (IPPs) due to strengthening of the Philippine Peso against US dollar and lower fuel prices. These factors offset higher Wholesale Electricity Spot Market (WESM) prices which increased due to tight power supply conditions. For helpful energy efficiency tips, customers may visit Meralco’s website at www.meralco.com.ph or its social media accounts, Twitter @meralco and Facebook at www.facebook.com/meralco.