Meralco Lowers Rate by P0.58 per kWh

Meralco Lowers Rate by P0.58 per kWh -- The Manila Electric Company (Meralco) announced that for this month of February, residential customers with 200-kilowatt hour consumption will experience a significant reduction in their electric bills.
The change in the rate is due to the cheaper cost of supply from the electric firm's sources, wherein there was a slash in its recent system loss charge. The company said:
In all, the 200-kilowatt hour household will see a P0.58 decrease in electricity rates this February
Meralco generation charge went down from an average rate of P0.55 per kWh to P5.24 per kWh from P5.79 per kWh previously.
The reduction was mainly a result of the low rates arising from the PSAs Meralco signed with its suppliers
The newly approved deals of the electric firm are from the following entities: SEM-Calaca Power Corporation of the Consunji group, South Premiere Power Corporation and San Miguel Energy Corporation, Masinloc Power Partners Co. Ltd. of AES Corporation and Therma Luzon Inc. of the Aboitiz group.

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