Manila Electric Co. (Meralco) customers will experience a slight upward adjustment in their electricity bill for the month after the distribution utility giant announced an increase of P0.0448 per kilowatt hour (kWh).
In a statement on Tuesday, Meralco said power rates for October will grow to P9.0862 per kWh from the P9.0414 a month prior. The adjustment will result in a P9 increase in a typical household bill consuming 200 kWh.
Meralco said that the raise was due to the net settlement surplus (NSS) refund for October for the Wholesale Electricity Spot Market (WESM). WESM charges decreased by P0.5290 per kWh driven by an improved power supply situation in the Luzon grid as there were fewer power plants that experienced outage during the supply month.
The WESM charges for October month also included the second installment of the NSS refund, as directed by the Energy Regulatory Commission (ERC) in an order dated 1 August 2019.
To recall, the power rate reduction last September was partially due to an NSS refund of approximately P684 million. However, NSS refund is smaller for October at around P381 million.
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The share of WESM to Meralco’s supply needs remained at 17 percent.
