Meralco announces power rates will rise by at least ₱2 per kilowatt-hour in December
Christmas is about to get more expensive.
Krista Angela Montealegre of InterAksyon.com reports that the electricity bills of Meralco customers are expected to go up by more than P2 a kilowatt-hour in December "because of the scheduled maintenance shutdown of the Malampaya natural gas field and other power plants."
The report explained that the P2/kwh increase will be an effect of the generation cost increase experienced by Meralco since it has to source power from the Wholesale Electricity Spot Market (WESM) and other potential suppliers due to the Malampaya shutdown. WESM "is a trading platform where distributors buy power they require beyond what their supply contracts provide. As a trading facility, prices increase whenever demand goes up amid tight supply."
Aside from telling consumers to prepare for the looming increase in generation charges, Energy Secretary Jericho Petilla also warned the public last week that higher electricity bills will continue to become a "problem" in April or May if the shutdown of the Malampaya power plant drags on.
For more on this story, log on to InterAksyon.com.