Meralco raises rates by P0.2331 per kWh for October

Meralco announced a P0.2331 per kilowatt hour (kWh) increase in electricity rates for October, reversing last month's reduction.

This adjustment will result in a higher overall rate of P13.3182 per kWh for a typical household.

Residential customers consuming 200 kWh can expect an additional P47 on their electricity bill.

The primary driver for this increase is a higher generation charge, which rose by P0.1903 per kWh.

Increased charges from Independent Power Producers (IPPs) and Power Supply Agreements (PSAs) are attributed mainly to the peso's depreciation against the US dollar.

The interim extension of Meralco's power purchase agreement with the First Gas-Sta. Rita plant, approved by the Energy Regulatory Commission (ERC), also contributed to the hike.

However, a significant decrease in charges from the Wholesale Electricity Spot Market (WESM) helped to temper the overall increase.