According to the leading electric power distribution company in the Philippines, was pleased to announce that there will be lower electricity rates this October 2018. Reports have said that last month (September 2018), the rates were priced at P10.0732 per kilowatt hour (kWh). This month, people should rejoice because it’s going to be down to P9.9766 per kilowatt hour (kWh).
How much is it going to be if seen on a larger scale?
If you think that a P0.0966 per kWh decrease is not that much, that will be a total of P19 in the total bill; given the fact that the consumption of the household is at 200 kWh. This is going to be larger and better if the consumption, is, of course, higher. However, lower electricity rates can lead to many things.
Read: Meralco To Lower Electricity Rates In May 2018
As a matter of fact, Meralco spokesperson Joe Zaldarriaga said that Meralco is currently away from the trend of goods and commodities being expensive.
We are pleased to announce that despite prices of other basic goods and commodities generally going up, Meralco customers can find some relief in the decrease of power rates these past two months, as this goes against the current trend that we see with other products,” said Joe Zaldarriaga.
Read: Water Shortage Warning of Manila Water, Expected by 2021
In addition to that, this month will also have a reduction in Power Supply Agreements (PSA) charges. Last month’s generation charge was at P5.2719 per kWh, this month, it’s down to P5.1908 per kWh. Bearing a total decrease of P0.0811 per kWh which is again, better if seen in a bigger scale.
What’s the reason for lower electricity rates this month?
According to analysts and reports, the reason for the lower costs of PSAs are due to more and higher dispatches of Ilijan and Masinloc plants. In spite of the continuous weakening of the Philippine Peso to the US Dollar, because of the surplus of these natural resources, power rates are down.
Hopefully, lower electricity rates would continue to somehow help ease the stress coming from the weakening of the Philippine Peso. However, we must always be ready if ever there would be changes, especially in our electricity and water bills.
Source: ABS-CBN News
