The Manila Electric Co. (Meralco) warned on Thursday that power rates are likely to go up this month.
It did not say by how much, but the utility firm is expected to announce it in the next few days. “There is a strong likelihood that prices will increase this January,” said Meralco utility economics head Lawrence Fernandez in a Viber message.
Besides this, the DRTU-1 [Distribution Rate True Up-1] refund will have been completed in December, so that this deduction will no longer appear on January bills,” he said. DRTU-1 worth P13.89 billion was implemented in March 2021. The average refund rate of P0.27 per kilowatt hour for residential customers ended in December last year.
DRTU-2 worth P4.84 billion started in March 2022 and will end this month. During this period, residential customers are entitled to a P0.19 per kwh of refund.
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