(UPDATE) POWER rates will go down this month because of expected lower generation charge brought on by a stronger Philippine peso against the US dollar, Meralco said on Tuesday.
“We expect a lower generation charge to pull the overall rate downward this September. The expected decrease is mainly due to the stronger Philippine peso against the US dollar, which affected the costs of Meralco suppliers that are dollar-denominated,” said Meralco Vice President and Head of Corporate Communications Joe Zaldarriaga in a statement., This news data comes from:http://kjf.aichuwei.com
“This development was able to more than offset the cost recovery of SMC Global Power Holdings Corporation for its terminated contracts, the implementation of which was given the go-ahead by the Energy Regulatory Commission and began this month. Overall, we are optimistic that the reduction in the generation charge will be able to offset increases in other bill components. We’re set to announce the actual rate adjustment tomorrow,” he added.
Meralco expects drop in power rates this month thanks to stronger peso
In August, Meralco announced a rate increase of P0.6268 per kilowatt-hour (kWh) due to higher generation and transmission charges, bringing the overall rate for a typical household to P13.2703 per kWh from P12.6435 per kWh in July.
- Rubio says US warned France on Israel annexation moves
- Sotto ousts Escudero in Senate coup
- Comelec probes 15 govt contractors over 2022 election donations
- Wife and ally of ousted SKorean president indicted by special prosecutors
- Sotto to Lead Senate again as majority votes to oust Escudero
- Israeli forces seize nearly 0,000 in West Bank raid
- 100K Pakistanis flee amid flood threat
- Modi: India, Japan to 'shape the Asian century'
- Boy killed, mother injured in Pasig fire
- No winner in lotto draws for Aug 30
