<\/p>\n
The Manila Electric Co. (Meralco) raised electricity rates for July by P0.3428 per kilowatt-hour (kWh), with higher generation costs accounting for greater than half of the rise following the scheduled shutdown of the Malampaya gas field, higher fuel costs, and firmer Wholesale Electricity Spot Market (WESM) prices.<\/p>\n
In an announcement on Friday, Meralco said the general rate for a typical residential customer rose to P14.8261 per kWh from P14.4833 per kWh in June.<\/p>\n
The adjustment translates to an extra P69 within the monthly bill of a household consuming 200 kWh.<\/p>\n
The generation charge, a pass-through component of consumers\u2019 electricity bills, increased by P0.1800 per kWh to P9.2504 from P9.0704 in June.<\/p>\n
Charges from the First Gas-Prime Energy generation portfolio rose by P0.3613 per kWh to P10.6489 after the one-month scheduled maintenance shutdown of the Malampaya natural gas facility that began on June 15 prompted the Sta. Rita and San Lorenzo gas-fired power plants to temporarily use imported liquefied natural gas (LNG), which carries higher fuel costs.<\/p>\n
Charges from power supply agreements (PSAs) executed after the implementation of the Electric Power Industry Reform Act of 2001 (EPIRA) increased by P0.2678 per kWh to P8.8694. Meralco attributed the rise to higher fuel prices linked to the continuing conflict within the Middle East.<\/p>\n
Meanwhile, the common price of electricity sourced from the WESM rose to P8.0337 per kWh after Luzon\u2019s peak demand reached a record 14,534 megawatts (MW) on May 28.<\/p>\n
Meralco said tighter supply-demand conditions resulted within the secondary price cap being imposed during 11.1% of trading intervals.<\/p>\n
In the course of the billing period, PSAs supplied 72% of Meralco\u2019s energy requirements, while the First Gas-Prime Energy portfolio accounted for 22% and the WESM supplied the remaining 6%.<\/p>\n
Taxes increased by P0.0960 per kWh, primarily because imported LNG is subject to the 12% value-added tax (VAT), unlike indigenous natural gas from the Malampaya field, which stays VAT-exempt, in line with Meralco.<\/p>\n
Transmission and other charges likewise increased by P0.0668 per kWh.<\/p>\n
Meanwhile, the Energy Regulatory Commission (ERC) prolonged until August the suspension of the gathering of the P0.0371-per-kWh Green Energy Auction Allowance (GEA-All).<\/p>\n
Meralco said its distribution charge has remained unchanged since a P0.0360-per-kWh reduction took effect in August 2022.<\/p>\n
Meralco\u2019s controlling shareholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT, Inc. Hastings Holdings, Inc., a unit of PLDT Helpful Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. \u2014 Arjay L. Balinbin<\/strong><\/p>\n<\/p><\/div>\n <\/p>\n","protected":false},"excerpt":{"rendered":" PHILIPPINE STAR\/ MICHAEL VARCAS The Manila Electric Co. (Meralco) raised electricity rates for July by P0.3428 per kilowatt-hour (kWh), with higher generation costs accounting for greater than half of the rise following the scheduled shutdown of the Malampaya gas field, higher fuel costs, and firmer Wholesale Electricity Spot Market (WESM) prices. In an announcement on […]<\/p>\n","protected":false},"author":1,"featured_media":364119,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[4223,1671,462,8452,1589,53719,3228,6229,5125],"class_list":["post-364118","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-charge","tag-generation","tag-higher","tag-july","tag-meralco","tag-p0-3428kwh","tag-power","tag-rate","tag-rises"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t