Meralco may cut power rates this month

Customers of Manila Electric Co. (Meralco) are likely to see a reduction in power rates this month due to lower generation charge – the biggest component in electricity bills.

“We may see the possibility of lower electricity rates this month following a slight increase in December,” Meralco spokesperson Joe Zaldarriaga said.

He said charges from the Wholesale Electricity Spot Market (WESM) as well as the peso-dollar exchange rate have been stable for the December supply month.

Data from the Bangko Sentral ng Pilipinas (BSP) showed the peso-dollar exchange rate averaged P49.815:$1 in December versus the P49.155:$1 average in November.

Read more here.

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