Power distribution giant Manila Electric Co. (Meralco) announced a 13.38 centavo per kilowatt-hour (kwh) in electricity rates for its residential customers this month.
The distribution utility said this includes the third and last tranche of the refund for the P6.9-billion over-recovery made from January 2014 to December 2016.
In terms of per household consumption, those consuming 200 kwh will see a higher adjustment of P26.76 in their monthly bills; P40.14 for 300 kwh, P53.52 for 400 kwh and P66.90 for 500 kwh.
Meralco said the increase in generation cost was mainly driven by the higher Independent Power Producers (IPPs) and power supply agreements (PSAs) charges.
Meanwhile, consumers will be billed P0.0265 per kwh under Universal Charge-Stranded Debts to cover the approved P24.2-billion recovery of the National Power Corp.?s stranded debt for 2011 and 2012. This will be collected by distribution utilities and the National Grid Corp. of the Philippines (NGCP) from consumers for nine years.