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barkadabet Meralco to hike transmission charges next year
MANILA, Philippines — Consumers of power distributor Manila Electric Co. (Meralco) should expect higher transmission charges starting January next year after the Energy Regulatory Commission (ERC) approved the recovery of deferred reserve market payments worth over P3 billion.
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It will be recovered over a staggered period of three months for the Wholesale Electricity Spot Market (WESM) trading participants in Luzon and Mindanao and six months for those in the Visayas.
Meralco, which distributes electricity to eight million customers in Metro Manila and nearby provinces, estimated an increase of around P0.40 per kilowatt-hour (kWh) in the transmission charge for the entire three-month period.
This is equivalent to a hike of at least P0.13 per kWh in transmission costs per month, or about P26 for typical residential households consuming 200 kWh monthly.
“Considering that total transmission charge right now is around P0.90 per kWh, (the increase) is almost half. The impact is mitigated by spreading recovery over three months,” Meralco VP and head of utility economics Lawrence Fernandez said.
Meralco, however, emphasized that these are just initial figures and are still subject to change.
Earlier this yearbarkadabet, the ERC ordered the temporary suspension of the billing and settlement at the power reserve market following significant price increases in reserve costs.