THE Manila Electric Company said it is cutting power rates in July by P0.72 per kilowatt-hour (kWh) on the back of a lower generation charge.
The power company, in a statement Monday, said the power company said this means that bills may go down by about P144 for customers consuming 200kWh of electricity, P216 for those consuming 300 kWh, P288 at 400 kWh, and P360 for those who consume 500 kWh a month.
Meralco noted that the generation charge went down for the second straight month, dropping from by P0.6436 per kWh. The power distributor also said charges from the wholesale electricity spot market (WESM) went down by P2.6597 per kWh as demand decreased with the onset the rainy season.
Charges from power supply agreements and independent power producers also went down due to lower coal prices, Meralco added.
The power distributor also said transmission and other charges, which include taxes and subsidies, also registered a net reduction of P0.0777 per kWh.
Power rates in June went up by P0.4183 per kWh.
