Meralco to increase electricity rate in November
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NewsTranscript
00:00Notice to Meralco consumers, there will be an increase in electricity rates by 43 centavos per kilowatt hour this November.
00:08According to Meralco, the weaker exchange rate between the peso and the dollar
00:12has contributed to higher generation and transmission charges, taxes and other fees.
00:18Meralco explained the power plant operators such as independent power producers,
00:22power supply agreements and the wholesale electricity spot market have also hiked their rates.
00:28Additionally, the National Grid Corporation of the Philippines or NGCP
00:32has increased its transmission charges which are also dollar dependent.
00:37The cost of fuel and the rates from Malampaya Gas Field, both dollar based,
00:41have further contributed to this increase.