nextbet Meralco sees cheaper power rates in January
Updated:2025-01-14 04:03 Views:142
Manila Electric Co. (Meralco) | INQUIRER FILES
After two straight months of rate hikes, Manila Electric Co. (Meralco) said Thursday its customers can expect lower electricity bills this January.
Meralco vice president and head of Corporate Communications Joe Zaldarriaga said the group was seeing a potential downward adjustment in the generation charge for this month, which may lower the overall rates. The generation charge usually accounts for at least half of power bills.
Article continues after this advertisement
Meralco is set to release the official rates next week.
FEATURED STORIES
BUSINESS
68% of PH workers need to upskill, says WEF study
BUSINESS
Mining sector poised for growth
BUSINESS
Gen Zs driving boom: PH digital lending market to exceed $1B this year
READ: Meralco to refund customers P987M
For late last year, particularly in November and December, the power distributor giant said the more costly rates could be blamed on higher generation charge, which goes to its suppliers.
Article continues after this advertisement
The generation charge covers the cost of power purchased from independent power producers, the Wholesale Electricity Spot Market (WESM), and power supply agreements.
Article continues after this advertisement
“This will be primarily driven by lower WESM prices due to improved supply situation in the Luzon Grid as both average peak demand and average capacity on outage went down in the December supply month.”
Article continues after this advertisement
In a separate statement, the Independent Electricity Market Operator of the Philippines (IEMOP) confirmed that last month’s spot power prices dropped by 21.9 percent to P3.45 per kilowatt-hour (kWh) from the previous P4.42 per kWh.
The billing period covered November 26 to December 25, the WESM operator said.
Article continues after this advertisement
During the period, the demand nationwide decreased by 2.8 percent to 13,275 megawatts (MW) from 13,659 MW a month ago.
Supply, meanwhile, went up by 3.4 percent to 20,150 MW from the previous 19,492 MW.
All main islands witnessed lower WESM prices, with Luzon posting the largest cut of 23 percent to P3.26 per kWh. Its demand likewise dipped to 9,344 MW, while supply inched up to 14,193 MW.
slots free spins no deposit
Visayas also booked lower prices at P3.87 per kWh from P4.82 a month ago. Its demand reached 1,942 MW, just 1.4 percent down from November. Its supply increased by 3.8 percent to 2,485 MW.
Your subscription could not be saved. Please try again.
Your subscription has been successful.
In its latest report on fiscal policy, the IMF said it expects global public debt to hit 93 percent of global gross domestic product (GDP) this year, and to approach 100 percent of GDP by 2030 – 10 percentage points higher than in 2019, before the COVID-19 pandemic hit.
The agreement to buy energy from reactors built by Kairos Power came just weeks after word that Three Mile Island, the site of America’s worst nuclear accident, will restart operations to provide energy to Microsoft.
SIGN ME UP
Mindanao, on the other hand, saw prices hit P3.88 per kWh, down 20 percent from P4.85 per kWh. Its demand fell by 2 percent to 1,989 MWnextbet, while supply ended almost flat at 3,473 MW.
READ NEXT
Volkswagen deliveries fall in 2024 amid China woes
Nigeria to include ‘illegal’ activities calculatin...
EDITORS' PICK
9⁰C-level temperature seen for Baguio, upland Luzon in February
Legarda honored with PhD, urges students to build resilient future
Fil-Ams grapple with devastating LA fires: ‘It’s like an apocalypse’
More villages affected by floods in Bicol
Jericho Rosales is proud of rumored GF Janine Gutierrez and her work ethics
Braced with fire defenses, Getty art center faces LA flames
MOST READ
Greenhills Shopping Center stays on US watch list
Rep. Castro says INC rally a move to shield VP Sara Duterte
Pepsi Paloma script handed by intermediary to Vic Sotto's 'sibling who's a senator'
UAAP: Casiey Dongallo, Jelai Gajero leave UE, transfer to UP
Follow @FMangosingINQ on Twitter
-->
View comments
