“It’s basically good news for Meralco customers as we are announcing a 71-centavo rounded off rate reduction for the residential consumers this month of July 2022,” said Meralco Spokesperson and Head of Corporate Communications Joe R. Zaldarriaga in a press briefing on Monday.
Households consuming 200 kWh will see a P141 decrease in their monthly power bill. Those consuming 300 kWh, 400 kWh, and 500 kWh, will see their monthly bills decline by P212, P283, and P353, respectively. On the other hand, there is an increase in the generation charge of 22 centavos per kWh in July to P6.7756 per kWh from the P6.5590 per kWh registered in June.
“Mitigating factor however was the rates of the independent power producers, which went down by 47 centavos per kWh,” Mr. Zaldarriaga. The yellow alerts, a warning of thinning power reserves, were placed by National Grid Corporation of the Philippines due to the forced outage of several power plants from June 20 to 22. The red alert was placed on June 18 due to the tripping of NGCP’s Hermosa-BCCP 230 kilovolt lines 1 and 2, which isolated several power plants.
“There was a steep depreciation of the peso from P52.37 in May to almost P55 in June,” Mr. Zaldarriaga said. “The generating plants utilize majority of their expenses using dollar-denominated expenses.”
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