The Manila Electric Company (MERALCO) announced a ₱0.35 reduction in its electricity charges for March.
According to the electric company, the drop in its power rates is equivalent to ₱72 conserved for customers who consume 200 kilowatts per hour (kWh). The main reason behind the cutback is the implementation of the distribution rate true-up refund worth ₱13.9 billion. Aside from this, the wholesale electricity spot market has also reduced its charges due to a higher energy supply amidst the high demand in the Luzon grid.
A ₱0.27 cut in consumers’ bills under the distribution true-up item will be reflected on their bills that can last for 24 months. This is the lowest electricity rate of the company since August 2017.
–Report from Naomi Tiburcio
