by about P0.30 to P0.40 per kilowatt-hour, or an average increase of P80 per bill for those consuming 200 kilowatt-hours per month, by January next year.
She said ERC will continue closely monitoring the Wholesale Electricity Spot Market rates because unless Meralco gets a replacement contract soon that is lower than the WESM, “exposure for consumers is at WESM prices which we cannot fix at this point.” The ERC also awaits action by the agency’s statutory counsel, the Office of the Solicitor General, after the matter was referred for undertaking the appropriate legal remedy, Dimalanta said.
WESM is the trading floor of electricity, where prices are more volatile, especially if supply is tight.
Source: Energy Industry News (energyindustrynews.net)
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