Manila Electric Co. said Friday power rates will climb by P0.3982 per kilowatt-hour in June on higher generation charges.
Meralco said the overall rate increased to P10.4612 per kWh this month from P10.0630 per kWh in May. The adjustment would translate into an increase of P80 in the monthly bill of a typical household consuming an average of 200 kWh per month.
It said generation charges rose P0.3313 to P6.5590 per kWh in June from P6.2277 per kWh in May, with costs from independent power producers and power supply agreements increasing P0.6083 and P0.0859 per kWh, respectively, because of higher fuel costs.
Fuel charges from the First Gas power plants went up 8 percent, with the increased usage of more expensive liquid fuel amid the Malampaya gas supply restriction.
Coal prices also increased by an average of 23 percent, contributing to the higher IPP and PSA charges.
Prices in the Wholesale Electricity Spot Market remained elevated, with the secondary price cap imposed twice on April 29 and 30. WESM prices went up by 12 percent to P6.9253 per kWh from P6.4865 per kWh in May.
Peak demand in the Luzon grid reached a record 12,113 megawatts in May following the continued easing of mobility restrictions and consequent increase in economic activity.
Meralco spokesman Joe Zaldarriaga said this month’s generation charge includes the last of three installments covering the deferred generation costs for the March bill and the second of three installments for the April bill.
He said these accounted for around P0.20 per kWh of the generation charges.
Meralco sourced the bulk of its supply from PSAs, accounting for 48 percent, followed by IPPs at 40 percent and WESM at 12 percent.
Transmission charges for residential customers posted a slight increase of P0.0083 per kWh, while taxes and other costs also registered a net increase of P0.0586 per kWh.
Meralco said the collection of P0.0025 per kWh, representing the universal charge-environmental charge, remained suspended as ordered by the Energy Regulatory Commission.
The implementation of distribution-related refunds continued to temper the overall power rate.
Meralco said the total refund is equivalent to P0.9353 per kWh for residential customers.