The Energy Regulatory Commission ruled that the P0.42 per kilowatthour rate increase of Manila Electric Co. in February is justified after a review of the documents submitted to the regulator.
“Based on our review of the submitted documents, Meralco was able to justify the price increase of P0.42 per kWh last month,” ERC chairman Jose Vicenter Salazar said.
He said based on the review of the documents submitted by Meralco on the February billing, the regulator determined that Meralco was implementing the power supply agreements as approved by the commission.
“The implementation by Meralco is consistent with the approved formula as prescribed in the approved PSA,” he said.
Salazar said the commission also determined that the generation charge imposed by Meralco for the February 2016 billing at a rate of P4.1691 was lower compared with the February 2015 rate of P5.2384.
He said the January-February 2016 increase in the generation charge of P0.2453 per kwh was also much lower than the January-February 2015 generation rate increase of P0.5202 per kwh.