THE Energy Regulatory Commission (ERC) has approved the proposed adjustments of the Manila Electric Co. (Meralco) to soften the effect on consumers of an increase in electricity rates for this month’s billing period.
Under the ERC-approved power supply agreements (PSAs), the measure allows cost adjustments from power suppliers to be reflected immediately to help reduce consumers’ bills.
Based on Meralco’s computation, the increase in generation charges for May was initially set at P1.0277 per kilowatt-hour (kWh) due higher power supply costs, rising fuel prices in the global market, and the continued weakening of the peso against the US dollar amid the war in the Middle East.
The adjustment would lower the generation charges from P1.0277/kWh to P0.4350/kWh.
“We understand the burden that rising electricity prices bring to Filipino households, especially during periods of global uncertainty and increasing fuel costs. The ERC continues to work closely with distribution utilities and other industry stakeholders to identify measures that can help reduce the impact on consumers,” ERC Chairman and CEO Francis Saturnino Juan said.
As global energy conditions continue to influence electricity prices worldwide, the ERC said it remains committed to safeguarding consumer welfare while ensuring stable, reliable, and sufficient power supply for the country.
