Manila Electric Co. (Meralco) customers will see their electricity bill increase by 50-centavos per kilowatt-hour (kWh) in April, or closer to P107 for a typical household using 200 kWh.
In a virtual briefing on Monday, Meralco officials announced that the overall rate for residential users rose from P9.6467 per kWh in March to P0.5363 per kWh to P10.1830.
“This summer season, in view of the adjustment of upward rates, the pattern of expenditure is also expected to increase. We are trying to find ways to mitigate the effects of the factors that are at play, “said Agapito D. Zaldarriaga, Meralco’s vice president and head of corporate communications.
Customers using 300 kWh, 400 kWh, and 500 kWh can expect monthly increases of P160.89, P214.52 and P268.15, respectively.
Meralco said that independent power generation (IPP) and high-charge generation from the electricity spot market have led to an increase in charges.
As a component of the monthly price increase, the generation charge is responsible for P0.3987. Other charges are transmission on P0.0071, tax on P0.0915, and other charges such as subsidy and system loss on P0.0390.
The generation charge in April rose to P5.8724 from P5.4737 per kWh in the previous month. Meralco’s distribution charges have remained unchanged since July 2015.
The increase in IPP charges to P1.4885 per kilowatt hour is affected by the scheduled maintenance of the power plant of Quizen Power (Philippines) Limited, insufficient supply of natural gas from the Malampaya facility which ensures the supply of First Gas Power Corporation Is acquiring expensive liquid fuels to ensure further devaluation.
“There has been a steady devaluation in recent months in terms of the impact of the peso and dollar exchange rates. At March P51.74, a depreciation from 51.27 in February, ”Mr Zaldariaga added.
Meanwhile, wholesale electricity spot market (WESM) prices rose in March due to depletion of stocks in the Luzon grid, which recorded the highest demand, exceeding the annual figure of 11,617 MW from 2019 to 2021.
Jose Ronald V., head of Meralco’s regulatory management office. Wallace said the company has coordinated with the Energy Control Commission and some of the company’s suppliers to suspend production costs, resulting in lower charges from power supply contracts (PSAs). P0.1068 per kWh.
“On top of the delayed generation charge, the impact of the Malampaya natural gas quarterly pricing for April supply will be reflected in the generation charge in May,” he added.
The increase in electricity rates was also offset by Meralco’s P13.9-billion distribution rate per kWh with a continuation of P0.4684 refunds, effective March 2021.
IPPs, WESM, and PSAs account for 31.0%, 17.4%, and 51.6% of Meralco’s energy requirements, respectively.
Meanwhile, Meralco has announced its readiness to provide uninterrupted power services for the May 9 national and local elections, with zero at key sites identified by the Election Commission.
To ensure that the electrical facilities are fully operational in a timely manner for the election, Meralco has conducted inspection and maintenance activities for its distribution resources along with polling stations in its franchise area.
As an elected member of the Energy Task Force under the Department of Energy, Meralco will actively liaise with other energy stakeholders to ensure uninterrupted power supply and form a dedicated emergency response team.
Meralco’s First Vice-President and Chief Commercial Officer Ferdinand O. The company has completed 100% inspections of 2,905 sites, including 2,773 polling stations, 119 campaign centers and 13 other important polling stations, Geluz said.
Mr Geluz added that Meralco had identified polling and campaign centers that needed to be improved and modified, and would continue to carry out “intensive inspections and maintenance” for its main benefits.
Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., partly PLDT, Inc. MediaQuest Holdings, Inc., a subsidiary of PLDT Beneficial Trust Fund, owned by Hastings Holdings, Inc. A unit of it, interested in it The commercial world Through the Philippine Star Group, which controls it. – Ram Christian S. Augustine