Good news for Meralco customers: electricity bills will decrease this month due to lower generation and transmission costs.
Meralco announced a rate cut of P0.36 per kilowatt-hour (kWh) for October, so the total rate will be P11.4295/kWh. Here's how much customers will save on their electric bills:
- 200 kWh: P72 savings
- 300 kWh: P108 savings
- 400 kWh: P143 savings
- 500 kWh: P179 savings
According to Meralco, the lower charges from the Wholesale Electricity Spot Market (WESM) helped to offset the additional cost from the Malampaya gas field. WESM rates decreased by P5.1001 per kWh after the completion of the collection of deferred charges in May 2024, according to the order of the Energy Regulatory Commission (ERC). Better power supply in the Luzon grid, due to lower average demand and outages of more than 500 MW, also helped lower rates.
In addition, the National Grid Corporation of the Philippines (NGCP) reduced the transmission rate by P0.0383 per kWh due to the decrease in ancillary service charges. Taxes and other fees also decreased by P0.0145 per kWh.
Meralco reminds that its distribution charge has not changed since August 2022, when it was reduced by P0.0360 per kWh for typical residential customers.
