Manila Electric Co., the biggest electricity retailer, expects the September power rates to be stable with the possibility of a reduction, an official said Monday.
“Based on our early projections, indications point to the movement of September power rates to be stable/flattish, with even a possibility of a rate decrease,” Meralco spokesman Joe Zaldarriaga said.
Meralco’s power rates remained stable despite the increase in prices of basic commodities.
Zaldarriaga said compared with July, the average power demand and outage in the Luzon grid in July were lower.
“In effect, there is a chance that there will be a small reduction in rates if the improvement in the Luzon grid’s supply situation translates to lower WESM prices this month,” he said.
Meralco also expects lower prices at the Wholesale Electricity Spot Market, the country’s trading floor of electricity, will offset any impact from the peso depreciation.
Meralco rates announced a slight increase of P0.0265 per kilowatt-hour in August at P10.2190 per kWh from P10.1925 per kWh in July.