It’s always such a great relief when there are significant price decreases in utility expenses such as electricity and water. That’s why I want to express the happiness my wife and I feel because of the recent decrease in power rates by Meralco.
This should also come as great news to all of you, so read on to know more about it.
For the second month in a row, the Manila Electric Company (Meralco) announced a decrease in power rates for February.
Bear with me as I get a little bit technical, ok. Hehehe! Anyways, it’s like this…
The overall rate for a typical household consuming 200kWh decreased by P0.59 to P8.86 per kilowatt hour (kWh); its lowest level in two years, from last month’s P9.45 per kWh. Such a household will see a decrease of around P118 for their total electricity bill this month. Nice, diba!
Basically, the reduction is mainly due to a lower generation charge after the implementation of new Power Supply Agreements (PSAs) starting last December 26.
The back-to-back rate decreases to start the year total to P1.00 per kWh. This actually goes against the usual trend we have grown accustomed to every February for the previous five years wherein rates usually increase around this period.
I learned that Meralco’s prudent and strategic partnerships with power suppliers and the resulting new PSAs, such as San Miguel Energy Corporation, South Premiere Power Corporation, and AC Energy, who charge a lower generation cost, have been the reason for the decrease in generation charge (P4.51 per kWh) for February. Charges from the Wholesale Electricity Spot Market (WESM) were also lower this month.
These lower prices from the new PSAs and the WESM —which accounted for 44% of the total supply — offset the cost of power from Meralco’s Independent Power Producers and old PSAs, which increased to P5.29 per kWh.
Expect consistently lower costs. Oh, yeah!
So, what does this all mean for us, you ask? Well… with these new PSAs providing lower generation costs, the public can expect consistently low power bills with energy-efficient use of appliances and devices at home, allowing for a bigger budget for other household and family needs.
A few quick energy efficiency tips to lower your Meralco bill more
Summer is fast approaching. That usually means higher electricity bills, too. But there are many ways we can help counter that common energy bill spike. Here are a couple of very useful tips and energy efficiency initiatives which Meralco encourages us to practice at home to help manage electricity consumption.
- Unplug appliances when not in use to avoid “phantom load”
- Use the aircon at mid-setting or at 25 degrees Celsius
- Use a power board or strip which can supply power to several appliances at once
- Maximize natural light during daytime
- Keep appliances well-maintained to ensure optimal performance
Well, hopefully, these tips help minimize your electricity consumption as well as improve and lower your montly energy bill some more. Likewise, I hope you’re just as happy and relieved as I am to know that our friendly electricity provider, Meralco, is constantly finding better ways to allow us to spend less and save more.
Here’s to better times ahead. Woohoo!