Lower frequencies of spikes in spot trading prices as well as demand drop due to cooler temperatures and the Philippine peso's appreciation vis-a-vis the US dollar precipitated the overall reduction of Meralco rate in the August billing cycle.
On account of the tamed generation charge, which is the biggest component of the pass-on rate, the resulting average tariff of Meralco for residential end-users would hover at P10.8991 per kWh in the current billing cycle from P11.1899 per kWh last month. For the other line items in the electric bills, it was specified that transmission and other charges - including taxes and subsidies - logged a net reduction of P0.0771 per kWh; while the collection of P0.0364 per kWh feed-in-tariff allowance remains suspended in this billing month.
For capacity procurements from its power supply agreements , Meralco further reported that this was pared by P0.1688 per kWh “due to lower fuel prices,” and that was also propped by the appreciating value of the Philippine peso, since at least 26-percent of the PSA charges are anchored on the US dollar.
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