Meralco rate to increase this month— Customers of Manila Electric Co. (Meralco) will pay more for power starting this month as the regulator approved a hike in the utility’s rate, composed of distribution, supply and metering charges. In an order, dated June 10, the Energy Regulatory Commission (ERC) provisionally approved the utility’s application for the maximum average price (MAP) for 2014 and its translation into specific rates across customer segments. According to the order, the MAP will enable Meralco to “immediately implement its capital expenditure program and address its operating maintenance requirement for the third regulatory period, particularly for RY (regulatory year) 2014 (July 1, 2013 to June 30, 2014)...Meralco is hereby directed to implement in the next billing cycle the approved distribution, supply and metering charges...” ERC Executive Director Francis Saturnino C. Juan said in a phone interview yesterday that “the overall increase in rates is equivalent to P0.0254 per kilowatt-hour (/kWh) from the P1.6220/kWh in regulatory year 2013 to P1.6474/kWh in regulatory year 2014.” “This increase involves the rate increase for MAP as well as the change in sales mix (projected sales against latest actual sales data, in this case September last year) which will be reflected in the overall distribution component of the power bills starting July this year until June next year.” Mr. Juan said the P0.0254/kWh hike is composed of a P0.0171/kWh increase in MAP (to P1.6474/kWh for RY 2014 from P1.6303/kWh for RY 2013) and P0.0083/kWh recovery due to sales data adjustment. -via Business World
Posted on: Fri, 05 Jul 2013 06:15:11 +0000
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