Meralco customers to see P0.28 rate hike in February bills

Meralco customers will experience a P0.2834 per kilowatt-hour (kWh) increase in their February electricity bills, reversing the rate reduction from January.

The overall power rate for February is P12.0262 per kWh, up from P11.7428 in January.

Residential customers consuming 200 kWh can expect an increase of approximately P57 in their monthly bill.

This increase is primarily driven by a P0.3845 per kWh rise in the generation charge.

Higher costs from Independent Power Producers (IPPs) contributed significantly, with IPP charges rising by P0.8355 per kWh due to factors such as lower plant dispatch, a weaker peso, and increased liquefied natural gas terminal fees at First Gas Sta. Rita and San Lorenzo.

Quezon Power also had a scheduled maintenance outage in January.

The depreciation of the peso against the dollar impacted 97 percent of IPP costs and 61 percent of Power Supply Agreement (PSA) costs.

PSA charges increased by P0.0837 per kWh, also attributed to the peso's decline.