In a statement on Thursday, Meralco said the overall rate for a typical household fell by P0.2087 per kilowatt-hour this month to P9.5458 per kWh, from P9.7545 per kWh in July.
This is the second straight month of reduction, after Meralco lowered rates by P0.7067 per kWh in July. Meralco also reduced the distribution charge, equivalent to P0.0360 per kWh for typical residential customers, for the first time since July 2015. The PSA charges fell by P0.4273 per kWh, since this month’s rate does not include the recovery of deferred generation costs for April’s power bill.
“The underlying Malampaya natural gas price increased by 15% starting this quarter, reflecting recent spikes in world crude oil prices. Power suppliers that have pass-through adjustments in Malampaya fuel — namely, First Gas-Sta. Rita, First Gas-San Lorenzo, and First Natgas-San Gabriel — accounted for 44% of Meralco’s supply during the period,” Meralco said.
PSAs, IPPs, and WESM accounted for 52%, 43%, and 5%, respectively, of Meralco’s energy requirement during the month.
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