MM power rates likely down this month

    464

    Manila Electric Co. (Meralco) said power rates in its franchise area will likely go down this month due to improved supply last month and the stronger peso.

    Joe Zaldarriaga, Meralco spokesman, said the official announcement on power rates movement will be announced this week pending completion of data and billings from power suppliers.

    Zaldarriaga said the quarterly repricing of Malampaya natural gas prices indexed to international crude oil prices will also be a factor since the drop of crude last April will be reflected in the natural gas price this month.

    “There is a possibility for a decrease in overall power rates and generation charge because of these factors. There were no yellow alerts during July against one in June and power supply was more stable as compared to last month, with lower demand in the grid as well.

    This may contribute to lower wholesale electricity spot market prices and a decrease in generation charge,” Zaldarriaga said.

    Meralco rolled back its rates for the fourth straight month in July due to lower generation charge.