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Meralco raises June rates by 64 centavos

Power distributor Manila Electric Co. (Meralco) announced on June 13 an increase of P0.6436 per kilowatt-hour in its rates this month, citing higher charges from the Wholesale Electricity Spot Market (WESM).
It said in a statement that the price hike would bring the overall rate to P12.0575 per kWh in June from P11.4139 per kWh in May, equivalent to an increase of around P129 in the electricity bill of a typical household with a monthly power consumption of 200 kWh.
As in previous billings, the generation charge caused the overall rate adjustment which rose by P0.3466 per kWh. But Meralco said the generation charge would have been higher at 48 centavos if it had levied the entire WESM charges.
Listed firm and suppliers Quezon Power (Philippines) Ltd., San Buenaventura Power Ltd. Co. and South Premiere Power Corp. deferred the collection of around P500 million in generation costs, pulling it down by P0.1313 per kWh.
Instead, the amount will be billed on a staggered basis over the next three months as approved by the Energy Regulatory Commission (ERC).
But ACT Teachers Rep. France Castro suggested that if generation companies agreed to stagger power rate hikes, power distributors should also be allowed to make staggered payments because some electric cooperatives were also cash-strapped.

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