Meralco states power rates are down despite rise in spot market prices

Meralco announced that power rates decreased by PHP 0.27 per kWh this month for a typical household.

Meralco states power rates are down despite rise in spot market prices

Meralco power rates down by PHP 0.27/kWh for May 2019

The decrease in power rate costs happened even though there was a rise in spot market prices. For instance, residential customers consuming 200 kWh per month will enjoy a reduction of PHP 55 in their electric bills. It means more savings for Filipino families in the long run.

Meralco explained that the overall rate decrease is due to the lower cost of power from Power Supply Agreements and Independent Power Producers due the increasing value of Philippine Peso against US dollar and lower fuel prices. These factors then balance out the higher Wholesale Electricity Spot Market prices which went up due to tight power supple conditions.

Either way, Meralco is still encouraging for responsible power usage and the practice of energy efficient habits to save more money as well as save the environment.

What do you guys think?