These downward movements in electricity rates in Metro Manila and adjacent provinces, which comprise Meralco’s franchise areas, are not new. In fact, these have been a trend in the past four years, with Meralco customers enjoying some of the largest tariff reductions worldwide, which enabled the current affordable power rates.
Recent newspaper reports mentioned a study by the International Energy Consultants (IEC) which affirms the lower tariffs of Meralco in recent years. It showed that, in local currency terms, Meralco’s average tariff (excluding VAT) has declined since January 2012 by 28 percent versus an average decline of only 19 percent across 44 markets.
IEC said that lower fuel costs, mainly coal, was a major contributor to the lower power prices. But the international consulting agency also pointed out that the power utility’s sourcing strategy, a lower distribution charge, and lower system loss were also major contributors to the decline. These accrued to benefits for Meralco customers, who collectively were able to save around Php 30 billion in power costs.
Good news diba? With all the Christmas season gastos, I feel super happy na makakatipid na ko on one major bayarin. Thank you Meralco! This mum loves you!
Now, where’s my videoke again? We’ll be having unli-videoke sesh this Christmas. And the Christmas lights are on. Yey! I won’t have to palpitate anymore. Harhar!