Power spot market prices push Meralco rates up in July 2021
Jul 9, 2021 11:56 AM PHT
Higher spot market prices pushed up Manila Electric Company s (Meralco) rates in July – the fourth straight month that rates are up.
In a statement on Friday, July 9, Meralco announced an upward adjustment in rates by P0.2353 per kilowatt-hour (kWh) to P8.9071 per kWh.
This is equivalent to increases for households consuming the following, for example:
P47.06 for 200 kWh
P117.65 for 500 kWh
The overall rate in July still includes the distribution rate true-up refund worth P0.2761 per kWh, which tempered the increase in charges.
Tight supply conditions in the Luzon grid brought generation charges up by P0.2536 to P4.8707 per kWh. Charges at the Wholesale Electricity Spot Market (WESM) remained high at P8.7424, aggravated by the supply restriction at the Malampaya gas field and forced plant outages.
Meralco rates up again in July
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