Higher electricity bills likely as spot market prices rise: Meralco

Alvin Elchico, ABS-CBN News

<p><br/>MANILA - Consumers should brace for higher electricity bills due to an expected uptick in power prices from the wholesale electricity spot market and other suppliers, Meralco said on Wednesday.</p><p>Meralco Spokesman Joe Zaldarriaga said new costs have been added to power rates, which will be reflected in the May billing.</p><p>He pointed remaining tranche of P0.20 per kilowatt-hour from the March increase in the generation charge which was staggered for April and May, and the inclusion of the P0.04/kwh increase in the universal charge beginning this month&#x27;s billing, </p><p>But he added that there is also a possibility of higher priced electricity from the spot market due to increasing demand and unscheduled shutdowns.</p><p>Power purchased from the spot market is usually higher than previously contracted power. Zaldarriaga said the final figure will be announced on Thursday. Meralco will find ways to mitigate the potential increase, he said.</p><p>Meanwhile, the National Grid Corporation of the Philippines said it recorded the highest peak demand for electricity yesterday at 12,431 megawatts, an all-time high that occurred at 1:56 p.m. </p><p>The previous highest peak was recorded last Monday at 12,418MW during the time when the Luzon grid was plunged into red alert.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/video/business/05/09/23/doe-inadequacies-in-transmission-system-led-to-luzon-power-interruption">DOE chief says &#x27;inadequacies&#x27; in transmission system led to power interruption in Luzon</a></li>	<li><a href="https://news.abs-cbn.com/business/05/10/23/doe-says-ilijan-plant-to-stabilize-luzon-power-supply">DOE says Ilijan plant to stabilize Luzon power supply</a></li></ul><div><strong>RELATED VIDEO</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2610260" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div><div> </div>

Consumers should brace for higher electricity bills due to an expected uptick in power prices from the wholesale electricity spot market and other suppliers, Meralco said.

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Higher electricity bills likely as spot market prices rise: Meralco

Higher electricity bills likely as spot market prices rise: Meralco

Alvin Elchico,

ABS-CBN News

Published May 10, 2023 03:43 PM PHT

|

Updated May 10, 2023 05:45 PM PHT

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Meralco

higher electricity bill

power rate hike

Joe Zaldarriaga

wholesale electricity spot market

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