The Manila Electric Co. (Meralco) raised electricity rates for July by P0.3428 per kilowatt-hour (kWh), with higher generation costs accounting for more than half of the increase, BusinessWorld reported. The scheduled shutdown of the Malampaya gas field, higher fuel costs, and firmer Wholesale Electricity Spot Market (WESM) prices contributed to the rise.
The generation charge, the largest component of the electricity bill, saw a significant increase. Meralco attributed this to the Malampaya shutdown and higher fuel costs.
The rate adjustment will affect Meralco's customers across its franchise area. The company noted that the increase reflects the cost of power purchased from suppliers.