Meralco is set to implement a rate hike in November, with electricity costs expected to increase by P0.4274 per kilowatt-hour.
The increase has been attributed to rising electricity prices in the Wholesale Electricity Spot Market (WESM), as well as higher transmission charges and taxes.
Meralco previously reduced its rates in October before this month’s increase.
The power distributor reported that the generation charge rose by P0.2884 per kWh, as charges from independent power producers increased by P0.9392 per kWh, mainly due to the peso’s depreciation against the dollar.
Moreover, transmission charges saw an increase of P0.0724 per kWh, attributed to higher ancillary service charges from the WESM Reserve Market.
Taxes and other charges went up by P0.0666 per kWh as well.
