BusinessWorld
May 7, 2021 | 7:29 pm
PHILIPPINE STAR/MICHAEL VARCAS
POWER rates in the Manila Electric Co. (Meralco) service area are expected to rise in May with the typical household expected to pay an additional P37 on its monthly bill, the first to not include the refunds for over-recoveries in transmission and other charges, Meralco said.
Meralco said in a statement Friday that the overall power rate for May is P8.5920 per kilowatt-hour (kWh), against P8.4067 per kWh in April.
The May rate is also lower than the year-earlier level of P8.7468 per kWh.
The typical household is defined as one that consumes 200 kWh.
BusinessWorld
May 3, 2021 | 12:08 am
BW FILE PHOTO
THE Supreme Court (SC) reversed the 2011 decision of the Court of Appeals (CA) that voided the 2003 decision of the Pasig Regional Trial Court ordering Manila Electric Co. (Meralco) to pay franchise tax to the Muntinlupa local government from 1992 to 1999.
In the High Court’s decision on Feb. 9 and published on March 3, it said the Muntinlupa local government init (LGU) had no power or authority to enact its franchise tax ordinance as “an ordinance which is incompatible with any existing law or statute is ultra vires.”
“[A]n ultra vires ordinance is null and void and produces no legal effect from its inception,” it added.
BusinessWorld
April 27, 2021 | 12:09 am
BW FILE PHOTO
MANILA Electric Co. (Meralco) posted a consolidated core net income of P5.11 billion in the first quarter, a decline of 11% year on year, after a slump in energy sales to the commercial sector due to the impact of the pandemic.
âDespite the continued strong sales from residential customers and the recovery of industrial sales, the commercial sector, however, struggled as restaurants, malls, hotels are not yet operating at their pre-pandemic level,â Meralco Senior Vice-President and Chief Finance Officer Betty C. Siy-Yap said during the distribution utilityâs briefing on Monday to present its financial and operating results.
Meralco rates rise on higher spot market prices bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
TYPICAL households in Metro Manila are set to see an increase of around P17 in their electricity bill this month as Manila Electric Co. (Meralco) announced a rise in the overall power rate due to higher spot market prices.
In a press release on Thursday, Meralco said that its overall rate climbed by P0.0872 per kilowatt-hour (kWh) to P8.4067 per kWh from last month’s P8.3195 per kWh.
The increase will translate into a P17.44 hike in the monthly bill of typical households, or those that consume 200 kWh a month. Households consuming 300 kWh, 400 kWh, and 500 kWh will see an increase of around P26, P35 and P44, respectively.