Good news to the Meralco customers, as rate decrease is seen for March 2021.
In the statement sent to THEPHILBIZNEWS, Manila Electric Company (Meralco) Vice President for Corporate Communications and Spokesperson Joe R. Zaldarriaga said, “Currently, we are still awaiting the final bills from our power suppliers, but based on initial projections, there is a strong likelihood that power rates for March 2021 will go down, as this will be the second consecutive month of decrease for the year.”
Notably, the March power rate will already include the average refund rate of P0.1528 per kWh, as part of Meralco’s Distribution Rate True-Up. On 19 February 2021, Meralco received a copy of the ERC Order dated 27 January 2021 granting the prayer of Meralco for the issuance of a provisional authority, with the refund to be implemented in approximately twenty-four (24) months starting March 2021. Meralco’s refund rate will be reflected as a separate line item in the bills of the customers during the refund period.
This projected decrease in power rates will continue the downward trend in the cost of electricity, with overall rates have decreased by more than 1 peso per kilowatt-hour since the start of 2020.
