Connect with us

Hi, what are you looking for?

Economy

Power rates down in November 2020

Improved supply situation causes decrease in Generation Charge

The Manila Electric Company (MERALCO) announced today a downward adjustment of power rates, as the overall rate for a typical household decreased by P0.0395 per kWh, from last month’s P8.5500 per kWh to P8.5105 per kWh this November. This is equivalent to a decrease of around P8 in the total bill of residential customers consuming 200 kWh.

This month’s overall rate is also a net rate reduction of P1.35 per kWh since the start of the year and is the third lowest overall power rate since September 2017.

Lower Generation Charge mainly brought about by improved supply situation

From P4.2233 per kWh in October, the generation charge decreased by P0.0215 per kWh to P4.2018 per kWh this November.

This month’s decrease in the generation charge is mainly due to the P1.2800 per kWh reduction in charges from the Wholesale Electricity Spot Market (WESM). The Luzon grid’s power supply situation improved in October, as demand decreased due to weather disturbances and there was less generation capacity on outage.

Lower Malampaya natural gas prices due to its quarterly repricing and a slight Peso appreciation resulted in the cost of power from the Independent Power Producers (IPPs) to decrease by P0.0842 per kWh. Meanwhile, charges from Power Supply Agreements (PSAs) inched up by P0.2118 per kWh partly due to the forced outage of San Gabriel during the supply month.

WESM, IPPs, and PSAs accounted for 12%, 35%,and 53% of MERALCO’s energy requirements, respectively.

Movements in Other Charges

Transmission charge, taxes, and other charges for residential customers also registered a net reduction of P0.0180 per kWh.

Collection of the Universal Charge-Environmental Charge amounting to P0.0025 per kWh remains suspended, as directed by the ERC.

MERALCO’s distribution, supply, and metering charges, meanwhile, have remained unchanged for 64 months, after these registered reductions in July 2015. MERALCO reiterated that it does not earn from the pass-through charges, such as the generation and transmission charges. Payment for the generation charge goes to the power suppliers, while payment for the transmission charge goes to the NGCP. Taxes and other

public policy charges like the Universal Charges and the FIT-All are remitted to the government.

No disconnection until December 31, 2020 for consumers 200 kWh and below

Meralco assured its customers that it will fully comply with the ERC Advisory released last October 29, 2020.

In line with the ERC Advisory, Meralco will NOT implement any disconnection on account of non-payment of bills until December 31, 2020 for consumers with monthly consumption of 200 kWh and below.

For all other customers, consuming 201 kWh and up, Meralco will be complying with ERC’s advisory stating that a minimum of 30-day grace period will be given on all payments falling due within the period of Enhanced Community Quarantine (ECQ) and Modified Enhanced Community Quarantine (MECQ), without incurring interests, penalties, and other charges. Any unpaid balance after the lapse of the 30-day grace period shall be payable in three (3) equal monthly installments without incurring interests, penalties and other charges.

In accordance with the ERC Advisory, Meralco also encourages customers who have the ability to pay to settle their bills within the original due date to help manage the cash flow in the energy supply chain and ensure the continuous supply of electricity.

For more information, customers may refer to their November bill insert, accompanying their November bill, for complete details.

MERALCO keeps its doors open for customers during General Community Quarantine (GCQ)

Customers may visit the nearest Meralco Business Center, which will continue to open its doors during the GCQ, and accept service applications, payments, and other transactions.

Strict safety measures continue to be implemented, like the “No Mask, No Entry” rule, Social Distancing and Temperature Check. Frontliners are available and ready, but strictly follow Social Distancing guidelines. Visitors can rest assured that these frontliners have passed the rapid COVID-19 testing authorized by the Pasig City Health Office. There are also acrylic barriers set up in the Meralco branches to protect both the customer and the frontliner.

But, for maximum safety and convenience, Meralco still encourages customers to use Meralco Online to transact from the safety of their homes. Multiple options for transactions have also been offered by the distribution utility, including the Meralco Mobile App via https://onelink.to/meralcomobile, Meralco Online via www.Meralco.com.ph, and the Meralco authorized payment channels at bit.ly/MeralcoPaymentPartners.

For more information and concerns, customers may visit MERALCO’s website at www.MERALCO.com.ph, its social media accounts, twitter @MERALCO and Facebook at www.facebook.com/MERALCO or may also call the MERALCO Hotline at 16211.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

GROSS BORROWINGS by the National Government had reached P2.75 trillion as of end-October as it continued to raise money for its pandemic response, preliminary...

Economy

By Luz Wendy T. Noble, Reporter THE PHILIPPINE Statistics Authority (PSA) said the base year for the consumer price index (CPI) will change to...

Economy

SOME INDIAN COMPANIES, including those from the pharmaceutical industry, are interested in investing in economic zones in the Philippines, according to an India Business...

Economy

By Keren Concepcion G. Valmonte, Reporter HOSPITALITY GROUPS expect a rebound in tourism as coronavirus disease 2019 (COVID-19) vaccination rates continue to improve and...

Economy

BUSINESSWORLD’s Luz Wendy T. Noble was recognized as the Best Reporter of the Year for Banking at the 30th annual awards of the Economic...

Economy

THE Securities and Exchange Commission (SEC) has flagged eight more entities in separate advisories for their unregistered investment solicitation programs. These offerings are PH...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Economy

Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Investing

Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.