By: Ronnel W. Domingo -04:42 AM
March 07, 2020
Rising spot market prices nudged
upward Manila Electric Co.’s overall rates by 2.78 centavos a kilowatt-hour
(kWh) in the March billing, even while contract prices of electricity went
down.
Residential customers of Meralco
that consume 200 kWh will see an increase of close to P6 in their bill.
The distribution giant’s latest
overall rate is pegged at P8.8901 a kWh, up from P8.8623 in February, following
two consecutive months of decreases that totaled at P1 a kWh.
Meralco said in a statement an
increase of P1.0479 a kWh in prices of supply bought at the Wholesale
Electricity Spot Market raised overall generation charges to P4.6632 a kWh from
P4.509.
This happened despite reductions in
charges for supply delivered from independent power producers and through power
supply agreements.
The rise in spot prices was “driven
by higher power demand and tighter supply conditions in the Luzon grid,”
Meralco said. “Average capacity on outage increased in February with the
scheduled maintenance of some power plants.”
The spot market accounted for 17
percent of Meralco’s supply.
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