(UPDATE) POWER rates will go down this month because of expected lower generation charge brought on by a stronger Philippine peso against the US dollar, Meralco said on Tuesday.
Meralco expects drop in power rates this month thanks to stronger peso
“We expect a lower generation charge to pull the overall rate downward this September. The expected decrease is mainly due to the stronger Philippine peso against the US dollar, which affected the costs of Meralco suppliers that are dollar-denominated,” said Meralco Vice President and Head of Corporate Communications Joe Zaldarriaga in a statement.
“This development was able to more than offset the cost recovery of SMC Global Power Holdings Corporation for its terminated contracts, the implementation of which was given the go-ahead by the Energy Regulatory Commission and began this month. Overall, we are optimistic that the reduction in the generation charge will be able to offset increases in other bill components. We’re set to announce the actual rate adjustment tomorrow,” he added.
In August, Meralco announced a rate increase of P0.6268 per kilowatt-hour (kWh) due to higher generation and transmission charges, bringing the overall rate for a typical household to P13.2703 per kWh from P12.6435 per kWh in July., This news data comes from:http://coltft.jyxingfa.com
- Dizon asks DOJ to issue immigration lookout bulletin to 26 DPWH officials and contractors
- Sen. Go files bills to push health, social, and labor reforms
- Marcos halts flood control budget; new commission to investigate expected 'in 48 hours'
- Budget shortfall narrows in July
- DILG denies claims ex-PNP chief ousted over firearms purchase
- Pagasa: Rainy Monday over Visayas, Luzon areas due to LPA, 'habagat'
- Indonesia protests put spotlight on paramilitary police force
- La Niña may return but temperatures will remain high, UN says
- Immigration deports 49 South Korean fugitives
- Pope Leo XIV to Israeli president: 2-state solution needed to end Gaza war
