MERALCO has hinted at a potential increase in overall electricity rates in November.
Meralco spokesman Joe Zaldarriga said there is an increase in the prices of electricity at the spot market, where the utility sources part of its supply.
There is also the repricing of Malampaya natural gas, which lifts prices higher than they were from the previous quarter.
But Zaldarriaga said not all cost inputs are already on hand, which is why Meralco is set announce to the final rate changes by late next week.
Meralco has also invited power generators to participate in the competitive selection process for 1,800 megawatts (MW) worth of supply.
But Zaldarriaga said there is no guarantee that Meralco can still get the power supply agreement at the same price or lower than the terminated power supply agreement with San Miguel-owned power plants.
Zaldarriaga said the utility is mandated to get the least cost of power supply for its millions of customers.
metrosundaily
