Meralco to hike rates in Dec as weak peso pads costs

Manila Electric Co., the country’s largest power distributor, said Wednesday it would increase rates this month after the peso’s weakness against the dollar inflated costs.

The P0.10kwh adjustment will result to an increase of roughly P20 for those who consume 200 kwh monthly, P30 for 300 kwh, P40 for 400 kwh and P50 for 500 kwh, Meralco said.

The company said 96 percent of the power it buys is billed in dollars.

Read more here.

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