News on lower power rates welcome
Credit to Author: Tempo Desk| Date: Mon, 27 Jan 2020 06:52:09 +0000
THE good news – so welcome at a time when there are so many reports of natural calamities here and violence and a fast-spreading virus abroad – is that Metro Manilans and other customers of the Manila Electric Co. (Meralco) will enjoy a reduction in their electric power bills this January.
Power rates this month are down by 41 centavos per kilowatt-hour (kwh). For a household consuming 200 kilowatt-hours a month, this means a reduction of R82 in its monthly bill.
The monthly decline in power rates was made possible largely by lower generation costs amounting to 29 centavos per kwh, due to Meralco’s power-supply agreements with independent power producers. The National Grid Corporation of the Philippines also lowered its service charge by 5.17 centavos per kwh. And taxes and other charges have been reduced by 6.56 centavos per kwh. All these combined to reduce the charges for residential customers this January.
This would be a good opportunity for manufacturers to increase their production of essential goods. The lower power rates should help them reduce their overhead and operational costs, that could lead to price reductions for their products.
It should also be noted while the prices of nearly everything else have gone up in the last decade, Metro Manila’s power rates have steadily declined, so that today they are among the lowest
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