The overall rate for a typical household decreased by ₱0.0151 per kWh, bringing the May rate to ₱14.3345 per kWh from ₱14.3496 per kWh in April.

“Despite initial indications of an increase, Meralco power rates this May had a modest reduction. This was achieved through proactive efforts led by the Energy Regulatory Commission (ERC) to cushion the impact of potentially high rates amid geopolitical tensions affecting energy prices,” said Meralco Vice President and Head of Corporate Communications Joe R. Zaldarriaga.

He noted, however, that customers may still see higher bills due to increased consumption during the summer months.

ERC Measures, Refunds Help Offset Cost Pressures

According to Meralco, the decline was driven by Energy Regulatory Commission (ERC)-approved mitigating measures, which helped offset higher generation charges.

A key factor was the acceleration of ongoing refunds, raising the refund rate for residential customers to ₱0.4278 per kWh from ₱0.2024 per kWh, following the ERC directive to return the remaining ₱14.2 billion over 12 months instead of two years.

Taxes and other charges also posted a net decrease of ₱0.1482 per kWh, supported by the suspension of the ₱0.0371 per kWh Green Energy Auction Allowance (GEA-All) for May to June 2026, and the partial impact of the VAT exemption on indigenous natural gas under Republic Act No. 12120.

Transmission charges likewise declined by ₱0.0493 per kWh, further easing overall rates.

Higher Generation Costs Still Drive Up Base Charge

Despite the overall slight reduction, Meralco’s generation charge rose to ₱8.7942 per kWh from ₱8.3864 per kWh, driven mainly by higher Wholesale Electricity Spot Market (WESM) prices and fuel-related increases.

WESM charges surged by ₱7.7239 per kWh, largely due to line rental components. However, ERC-approved caps under Power Supply Agreements (PSAs) helped offset these costs, with suppliers absorbing a portion of the charges and reducing PSA costs by ₱0.1793 per kWh.

Meanwhile, electricity from the Sta. Rita and San Lorenzo gas plants of First Gas/Prime CoreGen increased by ₱0.1786 per kWh, reflecting higher fuel costs and peso depreciation affecting dollar-denominated expenses.

Meralco’s power supply mix for the period came from PSAs (73%), WESM (7%), and First Gas/Prime CoreGen (20%).

Energy Conservation Remains Key

Meralco reiterated its reminder for consumers to practice energy efficiency, especially during the dry season when electricity use typically rises.

“By being more mindful of power consumption and practicing energy efficiency, customers can better manage their electricity bills,” Zaldarriaga said.

The utility also encouraged customers to use tools such as the Meralco Appliance Calculator and digital platforms like the My Meralco app for monitoring consumption.

Customers can report their concerns through the My Meralco app or through Meralco’s official social media accounts on Facebook and X formerly Twitter (@meralco). They may also text their concerns to 0920-9716211 or 0917-5516211 or contact the Meralco Hotline at 16211.

Until suddenly, they do.

In the stock market, silence can be just as revealing as movement.

One company listed on the Philippine Stock Exchange — long dismissed by some investors as stagnant and unexciting — has suddenly become the subject of intense market whispers as the global energy landscape shifts and demand for power assets surges.

Curiously, some retail investors attempting to accumulate shares reportedly found themselves repeatedly unable to secure meaningful positions.

Orders placed. Orders queued. Yet the shares appeared unusually difficult to secure.

Ordinarily, such developments could simply be attributed to market dynamics.

But in financial circles, another rumor has quietly begun circulating: talk of a possible delisting.

Nothing official. Nothing publicly disclosed. But enough for market observers — and perhaps even regulators — to take notice.

According to sources who spoke with THEPHILBIZNEWS, industry insiders are now asking whether the unusual trading behavior and heightened interest surrounding the company are merely coincidence — or signs of something larger unfolding behind the scenes.

If such a move were ever pursued, it would hardly be straightforward.

Under Philippine regulations, a voluntary delisting would require shareholder approval, a tender offer to minority investors, and an independent fairness opinion to determine whether the offer price is reasonable.

The rationale is simple: protect minority shareholders from being squeezed out cheaply while controlling interests reposition themselves for future gains.

Because that is often where controversy begins.

Global markets have seen instances where companies were taken private at relatively modest valuations, only for those same assets to later re-emerge far more valuable once outside the scrutiny of public markets.

Not automatically illegal. But almost always closely watched.

Regulators such as the Securities and Exchange Commission and the Philippine Stock Exchange would likely examine critical questions:

Were all material disclosures made properly and on time? Was any tender offer truly fair to minority shareholders? Did anyone benefit from non-public information? And were ordinary investors treated equitably?

Companies are, of course, free to restructure, consolidate, or reposition strategically.

But markets tend to react differently when investors begin to suspect they were ushered out just before the real value surfaced.

And that is where the broader story begins.

Across the Philippine market, several long-overlooked companies tied to energy, infrastructure, logistics, ports, and other strategic assets are quietly drawing renewed attention as global supply chains shift and energy security becomes an increasingly urgent concern.

What were once viewed as sleepy listed firms are now increasingly being linked to sectors suddenly considered critical to long-term economic resilience and national development.

As a result, valuations once dismissed as ordinary may no longer appear so ordinary after all.

And that is precisely why whispers travel fast.

For now, there is no public disclosure indicating that any delisting plan is underway. The company remains actively traded and operational on the Philippine Stock Exchange.

Still, in boardrooms and brokerage circles, the murmurs continue.

Because in the market, perception moves almost as quickly as power.

And sometimes, the biggest deals are the ones ordinary investors only fully understand after they are already out of the picture.

Nothing illegal has been alleged.

But in markets where timing is everything, even silence can sound loud.

Okashi ne?

In a press briefing after leading the 48th ASEAN Summit in Cebu, Philippine President Ferdinand R. Marcos Jr. said that the establishment of the ASEAN Maritime Centre is about freedom of navigation in Southeast Asia — not the situation in the South China Sea.

“What we are looking for, or what is the ultimate reason for having this Maritime Centre is not to confront or not to somehow push back on any single force or any single country,” the Philippine Chief Executive said.

“The idea of the Maritime Centre is to make a cohesive organization that will put together all the efforts of all the different countries, ASEAN and even other countries outside of ASEAN, who have an interest, who are stakeholders,” the President added.

The establishment of the ASEAN Maritime Centre is a product of Philippine efforts towards safe navigation between ASEAN nations as part of the ASEAN Declaration of Maritime Cooperation.

Earlier, Philippine Foreign Affairs Secretary Ma. Theresa Lazaro underscored the importance of the Declaration to recognize the multi-dimensional nature of maritime issues in the region and enhance the coordination among ASEAN Member States.

The ASEAN Declaration of Maritime Cooperation is in line with the ASEAN Vision 2045, which is set to establish the Connectivity Pillar that will enhance all existing community pillars, namely economic, foreign, and socio-cultural.

But rather than just solving the maritime issues of the region, the ASEAN Maritime Centre aims to establish ease of trade in the South China Sea and avoid problems such as that experienced in the Strait of Hormuz amid the Middle East conflict.

“As we all know, a large percentage of world trade goes through the South China Sea. And as has been demonstrated by the closure of the Strait of Hormuz – the Strait of Hormuz is 20% of the entire oil supply of the world. And we are all very aware of the effects of that,” the Philippine President said.

“But if such a thing would happen in the South China Sea, the inevitable consequences would be alarming, just to even think about.”

President Marcos assured that the ASEAN Maritime Centre is a big step forward to a safer and more secure cooperation and coordination between ASEAN Member States.

“And I am very optimistic that it will in fact be established. And the discussions that we had progressed very, very quickly. There was a very wide consensus amongst members of the things that need to be done and how we need to do it,” the Philippine Chief Executive said.

“So, again, this is a new concept. And that’s why we still have to put the structure in place, the framework in place. We have to put the vision, mission in place.” 

More than 540 decarbonization projects are already underway across 11 countries under the Asia Zero Emission Community (AZEC) framework, Japanese representatives said, urging Philippine business leaders to take a more active role in advancing zero-emission investments in the region.

The statement set the tone for a high-level dialogue between Japanese leaders under the AZEC Parliamentary Association and members of the Association of Southeast Asian Nations – Business Advisory Council (ASEAN-BAC) Philippines, as both sides pushed for deeper cooperation on energy security, sustainable investments, and supply chain resilience.

Launched in 2023 and proposed by former Japanese Prime Minister Fumio Kishida, AZEC is a government-led platform that brings together Japan, Australia, and nine ASEAN countries that include the Philippines — to pursue carbon neutrality through what it calls “one goal, various pathways.”

The framework promotes a “triple breakthrough” strategy: advancing decarbonization, economic growth, and energy security at the same time.

Kishida, now serving as Supreme Advisor of the AZEC Parliamentary Association, led the Japanese delegation composed of parliamentarians and business leaders driving Japan-ASEAN cooperation. On the Philippine side, ASEAN-BAC officials, including businessman George Barcelon, represented the private sector alongside key industry stakeholders.

“Your presence here today underscores Japan’s strong commitment to advancing the Asia Zero Emission Community and deepening strategic cooperation with ASEAN,” Barcelon said.

Discussions focused on how AZEC can translate policy into tangible investments, with Japanese officials highlighting a growing pipeline of projects and partnerships spanning renewable energy, grid modernization, hydrogen and ammonia supply chains, and carbon capture technologies.

These initiatives are supported by a mix of policy coordination, technology transfer, and financing mechanisms, including concessional loans and multi-billion-dollar regional packages.

Amid ongoing geopolitical tensions and volatility in global energy markets, both sides underscored the urgency of strengthening regional energy systems while ensuring stable and diversified supply chains.

Participants emphasized that closer coordination among governments, businesses, and financial institutions will be critical in navigating the complexities of the energy transition. particularly in fast-growing economies like the Philippines, where energy demand continues to rise.

Beyond energy, the dialogue also explored opportunities to expand collaboration in entrepreneurship, innovation, and support for micro, small, and medium enterprises (MSMEs), with Japanese officials encouraging engagement with startups and emerging industries that can drive inclusive growth.

The meeting also reflected broader strategic alignment between Japan and ASEAN, with AZEC serving as both a climate and economic platform. Japan has positioned the initiative as part of its wider Green Transformation strategy, using it to mobilize investments, shape regional energy systems, and support partner countries amid global supply shocks.

The engagement coincided with the 70th anniversary of Japan-Philippines diplomatic relations, reinforcing the depth of bilateral ties and shared development goals.

Both sides expressed optimism that stronger collaboration between Japanese stakeholders and Philippine businesses will accelerate investments in clean energy, infrastructure modernization, and sustainable development while opening more opportunities for local firms to participate in Japan-backed regional initiatives.

During the Senate Proactive Response and Oversight for Timely and Effective Crisis Strategy (PROTECT) committee hearing, lawmakers urged the Energy Regulatory Commission (ERC) to assess the impact of reducing or removing tax components embedded in electricity bills.

Senator Sherwin Gatchalian said consumers shoulder not only the 12% value-added tax (VAT), but also other levies such as local franchise taxes and energy-related charges.

“We’ll request ERC to study the tax component,” Gatchalian said.

ERC Chairperson and Chief Executive Officer Atty. Francis Saturnino Juan said the commission has already reached out to the Bureau of Internal Revenue (BIR) to discuss concerns over electricity taxation.

Senate Deputy Minority Leader Rodante Marcoleta renewed his proposal to remove the 12% VAT on electricity bills, noting that additional charges such as taxes on system loss further increase consumer costs.

“Kaya tumataas ang singil dahil sa mga ganitong contributory factors,” Marcoleta said.

Senator Imee Marcos likewise floated the possibility of lowering VAT on power consumption, saying it could provide immediate relief to consumers.

“It’s not helping our problem. Kung malinaw naman at nakahiwalay ang VAT sa unbundled bill, bakit hindi na lang ito bawasan para maibsan ang singil?” Marcos said.

The renewed calls come as electricity affordability remains a major concern for households and enterprises, with lawmakers seeking measures that could temper utility costs while ensuring the sustainability of the power sector.

The power distributor emphasized that electricity bills contain a clear and detailed breakdown of charges, enabling customers to understand exactly where their monthly payments go.

“Meralco, like all electricity distributors nationwide, operates under strict regulatory oversight to ensure that all charges are lawful, transparent, and properly vetted. Every line item reflected in the electricity bill undergoes regulatory approval before implementation,” said Meralco Vice President and Head of Corporate Communications Joe R. Zaldarriaga.

Among the charges included in bills are public policy charges such as the Senior Citizen Subsidy, Lifeline Rate Subsidy, and Universal Charge, which fund support programs for vulnerable sectors and other government initiatives. Also included are the Feed-in Tariff Allowance and Green Energy Auction Allowance, which are collected from all electricity end-users to help accelerate the country’s transition to cleaner energy sources.

Meralco stressed that these charges are mandated under existing laws and regulations.

“These mandated charges are remitted to the government through the appropriate agencies. They are neither new charges nor exclusive to Meralco, as they are implemented by all distribution utilities and electric cooperatives across the country,” Zaldarriaga explained.

The company also clarified that, similar to generation charges, transmission charges, and taxes, these are pass-through costs from which Meralco does not earn revenue.

“We act solely as collection agents for these costs. They do not form part of our revenues in any way,” Zaldarriaga said. “All charges reflected in electricity bills are subject to rigorous review and regulatory clearance before implementation.”

Meralco added that its own distribution charge has remained unchanged since it was reduced in 2022.

As misinformation continues to spread online, the company said it will sustain efforts to provide clear, factual, and timely information to help customers better understand their monthly bills.

“We will not cease our efforts to empower consumers with the right information. Transparency and accountability remain our top priorities, and we assure our customers that they may reach us anytime through our various customer touchpoints,” Zaldarriaga said.

Customers may report concerns through the My Meralco app, Meralco’s official Facebook page, X account (@meralco), via text at 0920-9716211 or 0917-5516211, or through the Meralco Hotline at 16211. More information is also available at the company’s official website: www.meralco.com.ph

In a statement, the group pointed to the Regional Procurement Hub (RPH) as a key example of what it described as increasing centralization in the management of electric cooperatives.

Under the RPH system, procurement decisions are consolidated at the NEA level—an approach that, according to Laban Konsyumer, weakens the ability of individual ECs to respond to local conditions and needs.

“Instead of strengthening electric cooperatives, this setup risks taking decision-making power away from the very communities these institutions are meant to serve,” the group said.

The group questioned NEA’s justification that the RPH promotes efficiency and cost savings, citing the lack of clear explanation and meaningful consultation with stakeholders. They also noted that decisions affecting electricity service and pricing appear to be implemented without sufficient engagement with member-consumers.

The statement also warned of potential risks associated with centralized procurement, including possible project delays, reduced operational flexibility, and the procurement of materials that may not be suited to specific local requirements.

These issues, they stressed, would ultimately be borne by consumers through higher costs and declining service quality.

Beyond the RPH, Laban Konsyumer expressed concern over what it described as a broader pattern of limited transparency and reduced public participation in policy decisions affecting electric cooperatives.

“Electric cooperatives are member-owned institutions. Consumers must have a voice in decisions that directly impact their livelihoods,” the group emphasized.

Laban Konsyumer called on NEA to provide a clear and comprehensive explanation of its policies, including the RPH, and to conduct open and meaningful consultations with electric cooperatives and their member-consumers. It also urged the agency to uphold the fundamental principle that cooperatives are owned and governed by their members.

“Electricity is a basic service. It must not be managed in a way that removes power from the very people who depend on it,” the group said.

Under the agreement, MPower will supply electricity to STT GDC Philippines’ three data center facilities—STT Fairview and STT Cavite 1 and 2—covering six accounts with a planned capacity of up to 40 megawatts of renewable energy. The deal is expected to bolster operational reliability and efficiency across the company’s facilities.

“As the Philippines rapidly accelerates its digital transformation, data centers are becoming a critical foundation of the country’s digital economy. From cloud computing and artificial intelligence to digital banking and e-commerce, these technologies rely on secure and reliable infrastructure powered by energy. Partnerships like this demonstrate how collaboration between world-class digital infrastructure providers and trusted energy partners can help enable the next phase of the Philippines’ digital growth. By ensuring reliable and sustainable power for data center operations, we are helping lay the groundwork for a future where the country can confidently support its growing digital ambitions,” STT GDC Philippines President and Chief Executive Officer Carlo Malana said.

STT GDC Philippines is a joint venture among Globe Telecom, Ayala Corporation, and ST Telemedia Global Data Centres.

Meralco noted the continued growth of the data center sector in the Philippines, driven by increasing demand for data management and digital services.

“Great partnerships are built on trust, a shared vision, and a commitment to move forward together. Through this agreement, we reaffirm MPower’s commitment to delivering reliable, flexible, and competitive energy solutions that empower our partners to grow and succeed,” Meralco Senior Vice President and Head of MPower Redel M. Domingo said.

MPower said it remains committed to promoting customer choice by offering cost-competitive electricity supply and flexible energy solutions to support businesses in achieving more efficient operations.

Approved under Monetary Board Resolution 296 dated April 8, 2026, banks are allowed to give clients more time to pay their loans, including up to six months of grace period for most borrowers and up to one year for farmers.

This means affected individuals and businesses can delay payments without being immediately penalized.

The BSP also said these loans will not automatically be classified as “bad loans” for up to one year, giving both borrowers and banks room to recover without hurting credit standing.

In addition, the central bank is urging banks and e-wallet providers to temporarily waive fees for online transfers, including InstaPay and PESONet, to help people save on costs.

“Lower-cost digital transactions may help consumers and businesses by reducing the need for transportation to banks and e-money service providers,” the BSP said in a news release.

The relief measures can be used for up to one year from the government’s declaration of a national energy emergency on March 24, which was triggered by global supply disruptions linked to tensions in the Middle East.

The BSP said the goal is to help businesses stay afloat and keep lending flowing despite rising costs.

“The BSP remains committed to promoting financial stability, financial consumer protection, and overall financial health amid the energy emergency,” it added.

However, banks are expected to apply the relief only to borrowers genuinely affected by higher energy costs, ensuring responsible lending practices are maintained.

The agreement, which marks a major step in the coffee chain’s shift toward cost-efficient and sustainable energy use, places the selected Starbucks branches under the Retail Aggregation Program (RAP).

RAP allows for multiple facilities to combine their power demand and access more competitive electricity rates under the Retail Competition and Open Access (RCOA) framework.

MPower, the retail electricity supplier of Manuel V. Pangilinan-led Manila Electric Company (Meralco), will provide the energy supply for the consolidated load, enabling operational efficiencies across the participating stores in Metro Manila.

The enrollment, which began in November 2025, is expected to support Starbucks Philippines’ efforts to optimize costs while advancing its sustainability agenda.

“In today’s evolving business environment, it is important for companies like ours to continue exploring ways to operate more efficiently. Since transitioning, we have begun to see initial savings in our electricity costs,” RCOC President Noey Lopez said during the ceremonial signing of the agreement with MPower.

The initiative complements existing in-store sustainability measures such as water-saving fixtures, 100% LED lighting, energy-efficient air-conditioning systems, and improved waste management practices.

Meralco Senior Vice President and Head of MPower Redel Domingo said the move highlights how businesses can benefit from participating in the competitive retail electricity market.

“By pioneering RAP within the food and beverage sector, it demonstrates how businesses with multiple facilities can access the benefits of the Retail Competition and Open Access (RCOA) framework,” Domingo said.

MPower said it will continue to promote customer choice by offering cost-competitive electricity and flexible energy solutions, particularly for companies seeking to improve efficiency across multiple locations.