September 10, 2019 | 12:34 am
HOUSEHOLDS in Metro Manila will see
lower electricity bills for the fifth straight month in September, according to
the Manila Electric Co. (Meralco).
The country’s largest electricity
distributor said in a statement on Monday that overall electricity rates will
drop by 52.6 centavos per kilowatt-hour (kWh) to P9.0414/kWh in September from
last month’s P9.5674/kWh due to lower overall generation charges.
This means that households consuming
200 kWh — who make up the biggest residential customer segment — will see their
power bills decrease by P105 this month. This marks the fifth consecutive month
of electricity rate drop since April, with the total decline now almost at
P1.52/kWh.
Meralco saw generation charges dip
by 44.29 centavos/kWh to P4.5191/kWh this month, mainly due to lower charges at
the Wholesale Electricity Spot Market (WESM).
Improved supply conditions in the
Luzon grid prompted a P3.6503/kWh decrease in WESM charges. WESM’s supplied 17%
of Meralco’s needs in the August supply month, whose charges are reflected in
September bills.
The cost of power from power supply
agreements fell by 15.22 centavos/kWh because of lower fuel prices. PSAs
accounted for 44% of Meralco’s supply.
This offset the higher cost of power
sourced from independent power producers (IPPs), which gained 48.44
centavos/kWh due to lower average plant dispatch and a weaker peso, since about
95% of IPPs’s costs are dollar-denominated. IPPs contributed 39% of Meralco’s
supply needs.
The transmission charge for
residential customers inched up 0.56 centavos, but was offset by the decrease
in taxes and other charges by 8.86 centavos/kWh.
Meralco’s controlling stakeholder,
Beacon Electric Asset Holdings, Inc., is partly owned by PLDT, Inc. Hastings
Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest
Holdings, Inc., has interest in BusinessWorld through the Philippine
Star Group, which it controls. — A. B. Francia
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