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Electricity rates to go up again

Posted by Mai on July 31st, 2007

ABS-CBN Interactive
Electricity rates to go up again


The Philippine Star

Customers of the Manila Electric Co. should brace themselves for a new round of power rate increases as the utility firm is set to recover another P9.5 billion worth of under-recoveries.

In a disclosure to the Philippine Stock Exchange (PSE), MERALCO said while the company has already filed for the recovery of P13.3 billion under-recoveries as of May 2007, it would need to recoup another P9.5 billion.

“In addition to the generation cost under-recoveries estimated at P13.3 billion as of end-May 2007, MERALCO also has incurred under-recoveries in the transmission charge, system loss charge, and the collection of both inter-class and lifeline subsidies,” it said.

It said that under-recoveries in these other bill components add an estimated P9.5 billion, as of end-May 2007, to the company’s total under-recovery in the collection of pass through costs.

According to MERALCO head for utility economics Ivanna dela Peña, the equivalent per kilowatt-hour (kWh) of these two applications for under-recoveries would depend on the period of recovery that would be approved by the Energy Regulatory Commission (ERC).

“(The rates) will vary. (The rates per kWh) depends on recovery period,” the official said.

Read rest of this story here:

ABS-CBN Interactive

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