Electricity Rates to Rise Up Again in July
Heads up, homeowners! Your electricity bills are set to rise up this July 2021.
Meralco announced Friday an upward rate adjustment of ₱0.2353 per kilowatt-hour (kWh), bringing the month’s overall rate to ₱8.9071 per kWh.
This means a household consuming an average 200 kwh per month may expect a ₱47 increase in its electric bill.
The inflation was due to“persistently high” Wholesale Electricity Spot Market (WESM) charges.
According to Meralco’s statement, the WESM charges remained high at ₱8.7424 per kWh due to tight supply conditions in the Luzon grid, aggravated by the ongoing Malampaya natural gas supply restriction.
In the previous weeks, the Luzon grid was placed on red alert from May 31 to June 2 and on yellow alert on June 4.
For reference, a red alert means power supply is insufficient for the demand for energy. While a yellow alert means thin energy reserves.
The power grid shed as much as 4,000 megawatts due to unplanned shutdown of power plants, prompting the red and yellow alerts.
As a result, the WESM prices were persistently high for extended periods, almost doubling the times when the secondary price cap was imposed during the June supply month.
Generation charge will also skyrocket to ₱4.8707 per kWh this month, along with charges from Independent Power Producers (IPPs) to ₱0.1929 per kWh.
These monthly charges are bound to go higher in the coming months. Take the opportunity to invest in solar power for your home or commercial space.
You can save up on monthly energy costs by 30%!
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