Meralco rates lower in January

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Metro Manila (CNN Philippines, January 8) —  Manila Electric Company (Meralco) customers will be charged less in January as the power distributor announced a drop in overall electricity rates for the month.

Meralco on Tuesday announced that rates will go down from P10.1803 per kilowatt hour (kWh) to P9.8385 per kWh.

The company attributes the P0.3418 per kWh drop to lower charges under its power supply agreements (PSA) and lower generation cost.

This translates to a roughly P68 decrease in the total bill of a typical household consuming 200 kWh.

"Lower PSA charges were brought about by a reduction in capacity fees as a result of the annual reconciliation of outage allowances done at the end of each year under the PSAs approved by the Energy Regulatory Commission," Meralco Public Information Office Head Joe Zaldarriaga said in a statement.

Meanwhile, charges from the Wholesale Electricity Spot Market also went down by P0.0165 per kWh due to the improvement in the power situation in Luzon, Meralco said.