Meralco electricity rates uncertain for June

Manila Electric Co. (Meralco) stated on Thursday that electricity rates for June remain uncertain due to mixed factors affecting overall charges.

The company is still awaiting final billings from suppliers to compute the power rates for the upcoming billing period, with initial data suggesting a possible increase in transmission costs due to higher prices in the reserve market.

Meralco hopes that generation charges will remain stable and that lower prices from the Wholesale Electricity Spot Market (WESM) may mitigate any potential increases, as WESM prices declined by 11.2% month-on-month in May, contributing to a decrease in power costs for Luzon.

The utility also noted it is implementing a P19.96 billion refund ordered by regulators, which could cushion any rate increases.

For the May billing cycle, Meralco implemented a rate reduction of 75 centavos per kWh, bringing the overall rate for a typical household to P12.2628 per kWh.