Meralco Announces February Power Rate Increase

The Manila Electric Company (Meralco) has announced a rise in power rates for February, with an increase of PHP0.28 per kilowatt hour (kWh). This adjustment raises the current rate to PHP12.0262 per kWh, up from PHP11.748 per kWh last month. For households consuming 200 kWh, this change will result in an additional PHP57 on their monthly electricity bill. The primary reason for this month’s rate hike is an increase in generation charges, which have risen by PHP0.3845 per kWh. This surge is attributed to higher costs from independent power producers (IPPs) and power supply agreements (PSAs). However, the impact was somewhat mitigated by lower rates from the Wholesale Electricity Spot Market (WESM). Meralco’s energy needs for the period were met with 29 percent from IPPs, 43 percent from PSAs, and 28 percent from WESM.