Meralco cuts January rateshome/News/Nation/Meralco cuts January ratesTHE Manila Electric Co. (Meralco) will reduce its rates by P0.3418 per kilowatt hour (kWh) in January because of lower generation charge, which dropped by P0.4184 per kWh to P4.9119 per kWh from December’s P5.3303 per kWh. This translates to a downward adjustment of P9.8385 per kWh for January from P10.1803 per kWh in December, Meralco said in a statement on Tuesday. Meralco attributed the lower generation charge to a P1.2293 per kWh reduction in the electricity cost from its power supply agreements (PSAs). The early completion of annual capacity payment for Sual Unit 1, Ilijan, Pagbilao Unit 1 and PEDC (Panay Energy Development Corp.) resulted in savings immediately passed on to consumers by way of lower electricity rates,” Meralco spokesman Joe Zaldarriaga said. Zaldarriaga, however, said power rates might increase next month.

Source: Manila Times January 08, 2019 17:15 UTC