Ahead of an official announcement, the Manila Electric Co. (Meralco) said power rates in its franchise area could again go down next month.
Joe Zaldarriaga, Meralco spokesman, said in a statement the decline is mainly due to the P0.1528 per kilowatt hour (kWh) refund applied by the company.
Zaldarriaga said Meralco has received a copy of the Energy Regulatory Commission’s decision dated Jan. 27, 2021 granting the prayer of Meralco for the issuance of a provisional authority to implement the refund in approximately 24 months starting March 2021.
Zaldarriaga said the refund will be reflected as a separate line item in the bills of the customers during the refund period.
“This projected decrease in power rates will continue the downward trend in the cost of electricity, with overall rates having decreased by more than P1 per kWh since the start of 2020,” he said.
The company’s official announcement of rate adjustments is expected to be conducted early next month.
Earlier this month, Meralco implemented a P0.0704 per kWh decrease in power rates as generation charges were pulled by lower fixed charges from power supply agreements.
