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Power consumers of Manila Electric Company will experience significantly higher rates in July of P2.1496 per kilowatt hour mainly due to higher generation charge as power costs normalized following artificially low rates last month.Meralco said in a statement Monday this brings the overall rate for a typical household to P11.6012 from previous month’s P9.4516 per kWh.
According to Meralco, the generation charge went up in July by P2.0021 per kWh as charges at the Wholesale Electricity Spot Market returned to normal levels as a result of the Energy Regulatory Commission’s directive to stagger the collection of the charges for the May supply month in four equal monthly installments until September 2024.
However, it said mitigating the increase was the reduction in spot market prices as average demand in the Luzon grid decreased by about 900 MW. Meralco said this month’s IPP rate similarly reflected the first collection of May 2024 deferred costs for QPPL.
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