Here comes an unexpected “gift” that we can be truly thankful for: Meralco has recently announced that overall electricity rates are lower by 12 centavos per kilowatt hour (kWh).
In fact, Meralco—the Philippines’ leading power distributor—has announced lower electricity rates for residential customers for three straight months, starting August of this year. According to the power company, the rate reduction was caused by downward movements in transmission and generation charges, which significantly affected the amount reflected in our bill.
An average Filipino household consumes around 200 kWh every month, which means that the 12-centavo reduction can translate to at least Php 24.00 off the monthly bill. And these days, the adage “a peso saved is a peso earned” is truer than ever.
Aside from the good news Meralco brought its customers this month, the energy company also received encouraging results of a study done by the International Energy Consultants (IEC), an Australian consulting firm that specializes in Asian power markets.
According to a recent IEC survey, Meralco subscribers enjoyed some of the largest tariff reductions worldwide in the last four years. Dr. John Morris of the IEC mentioned that through Meralco’s overall sourcing strategy, lower systems loss, and a lower distribution charge, their subscribers saved P30 billion in power costs.
There really is nothing like good news to get us started for a joyous holiday season!