Business World Online
Posted on August 08, 2011 11:46:38 PM
MANILA Electric Co. (Meralco) is hiking its generation charge by 8.5 centavos per kilowatt-hour this month, an increase attributed to costlier power from the Wholesale Electricity Spot Market (WESM) and independent producers.
-- BW FILE PHOTO
The generation charge -- the biggest component in consumers’ electricity bills with a 60% share on average -- has been adjusted to P5.3721/kWh for August from P5.2871/kWh last month, the utility said in a statement,
Meralco said the effective cost of power sourced from the spot market grew by P1.29/kWh to P9.7/kWh. It said peak period purchases from the WESM, which accounted for 7.3% of the utility’s supply, also increased to 62.1% from 38.4%.
The cost of electricity sourced from independent power producers (IPPs) increased by P0.167/kWh, traced to more expensive Malampaya natural gas -- the effective cost of which was said to have risen some 9% last month -- and "a reduction in the dispatch of Quezon Power" due to forced outages.
With 47% of its requirements having come from IPPs, Meralco said they continued to be the utility’s lowest cost source.
The higher IPP and WESM costs, it said, were mitigated by National Power Corp.’s shift to wet season rates that equated to a P0.5198/kWh reduction.
The August generation charge adjustment means households that consume 100 kWh per month will see a P8.5 increase in their bills. Customers who consume 200 kWh -- the utility’s biggest customer segment at a third of the total -- will see an increase of P17. Those using 300 kWh will have to add P25.5 to their payments.
Meralco is controlled by Metro Pacific Investments Corp., the local arm of Hong Kong’s First Pacific Co. Ltd., which also partly owns Philippine Long Distance Telephone Co. Mediaquest Holdings, Inc., a unit of the Beneficial Trust Fund of PLDT, has a minority stake in BusinessWorld.
Shares of Meralco closed at P260 yesterday, down from P265 last Friday. -- E. N. J. David
Meralco said the effective cost of power sourced from the spot market grew by P1.29/kWh to P9.7/kWh. It said peak period purchases from the WESM, which accounted for 7.3% of the utility’s supply, also increased to 62.1% from 38.4%.
The cost of electricity sourced from independent power producers (IPPs) increased by P0.167/kWh, traced to more expensive Malampaya natural gas -- the effective cost of which was said to have risen some 9% last month -- and "a reduction in the dispatch of Quezon Power" due to forced outages.
With 47% of its requirements having come from IPPs, Meralco said they continued to be the utility’s lowest cost source.
The higher IPP and WESM costs, it said, were mitigated by National Power Corp.’s shift to wet season rates that equated to a P0.5198/kWh reduction.
The August generation charge adjustment means households that consume 100 kWh per month will see a P8.5 increase in their bills. Customers who consume 200 kWh -- the utility’s biggest customer segment at a third of the total -- will see an increase of P17. Those using 300 kWh will have to add P25.5 to their payments.
Meralco is controlled by Metro Pacific Investments Corp., the local arm of Hong Kong’s First Pacific Co. Ltd., which also partly owns Philippine Long Distance Telephone Co. Mediaquest Holdings, Inc., a unit of the Beneficial Trust Fund of PLDT, has a minority stake in BusinessWorld.
Shares of Meralco closed at P260 yesterday, down from P265 last Friday. -- E. N. J. David
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