Residential customers of the Manila Electric Company (Meralco) are set to receive a PHP0.59-per-kilowatt-hour refund in their August electricity bills following an order approved by the Energy Regulatory Commission (ERC).
Meralco spokesperson Joe Zaldarriaga said the refund is expected to help temper the impact of other charges that are pushing electricity costs higher this month.
Refund to Cushion August Rate Hikes
Among the factors contributing to higher charges are increased reserve market prices billed by the National Grid Corporation of the Philippines (NGCP), the higher feed-in tariff allowance (FIT-All), and the collection of ERC-approved pass-through under-recoveries.
Zaldarriaga said the refund could offset some of these increases and provide relief to consumers.
He also pointed to the easing of electricity demand in the Luzon grid, which could support a lower overall power rate for consumers.
Spot Market Prices Ease
Data from the Independent Electricity Market Operator of the Philippines (IEMOP) showed that wholesale electricity prices in the spot market fell in July.
The decline was attributed in part to cooler weather, which reduced electricity demand across the Luzon grid.
The development comes as households continue to deal with fluctuations in electricity charges and changing power market conditions.
New Rates to Be Announced Monday
Meralco is expected to release its official August electricity rates on Monday, August 10.
The company also reminded consumers to practice energy efficiency as a way of managing their electricity use and keeping monthly bills under control.
