Meralco: Electricity rates down slightly in October

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Metro Manila (CNN Philippines) Amid rising prices of food and fuel, the country's biggest power distributor on Monday announced a slight dip in prices, the second consecutive reduction.

The Manila Electric Company (Meralco) said there will be a P0.0966 per kilowatt-hour (kWh) cut in power rates for October, as overall charges went down to P9.9766 per kWh this month.

For a typical household consuming 200 kWh, this will mean a P19 reduction in the monthly bill.

"We are pleased to announce that despite prices of other basic goods and commodities generally going up, Meralco customers can find some relief in the decrease of power rates these past two months, as this goes against the current trend that we see with other products," said Joe Zaldarriaga, Meralco spokesperson and head of Public Information Office.

Meralco attributed the price reduction to lower generation charges as well as the slight dip in Power Supply Agreement (PSA) cost.

The generation charge for October slipped to P5.1908 per kilowatt-hour (kWh) this October from a P5.2719/kWh last month. This was also mainly due to the P0.2790/kWh decrease in PSA charges for October.

Meralco in September carried out a hefty rate cut after successive increases in July and August.

The power distributor said since April this year, electricity rates registered a net decrease of P0.57/kWh.