Consumers of Manila Electric Co. may see a slight reduction in generation charges this month on lower prices at the Wholesale Electricity Spot Market.
Meralco senior vice president and head of utility economics Lawrence Fernandez said while coal prices were going up, its impact would be mitigated by lower WESM prices.
WESM acts as the country’s trading floor of electricity. Power rates are historically lower in the last quarter because of cooler temperature.
“While coal prices have continued to rise, the exchange rate has stabilized and there is a strong possibility that the higher coal prices can be offset by the lower charges from the WESM,” Fernandez said.
“We may again see another slight reduction in the generation charge this November,” he said.
Meralco submitted an application with the Energy Regulatory Commission to implement a new customer information system costing P1.758 billion.
The proposed system aims to better serve its nearly six million customers.