Meralco: Electricity rates lower in May

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Metro Manila (CNN Philippines, May 10) — The nation's largest power distributor announced that consumers will pay less in May.

Manila Electric Company (MERALCO) said the P0.54 per kWh cut will result in a P109 decrease in the bill of a typical residential customer consuming 200kWh.

This was brought about by lower charges from the Wholesale Electricity Spot Market (WESM), which decreased by PhP1.0139 per kWh because of power plants going back online after their scheduled maintenance. This accounts for 22% of Meralco's total energy requirement.

Independent power producers (IPP) like Quezon Power, which accounts for 45% of Meralco's total energy requirement, lowered their charges by PhP0.5920 per kWh.

Together, the WESM and IPP offset the higher charges from Power Supply Agreements (PSA), which increased by P0.2096 per kWh. PSA purchases make up the remaining 33% of  Meralco's total requirement. PSAs include the Malampaya, Pagbilao, and Ilijan power plants.