Utility firm Manila Electric Company (Meralco) hinted that there is a strong possibility of power rate reduction for March 2021.
Joe Zaldarriaga, Meralco spokesperson and head of Corporate Communications, told Frontpageph.com that they are still waiting the final bills from their power suppliers.
But based on initial projections, he said rate reduction will happen, the second consecutive month of rate decrease for the year.
Notably, the March power rate will already include the average refund rate of P0.1528 per kWh, as part of Meralco’s Distribution Rate True-Up.
On 19 February 2021, Meralco received a copy of the ERC Order dated 27 January 2021 granting the prayer of Meralco for the issuance of a provisional authority, with the refund to be implemented in approximately twenty-four (24) months starting March 2021.
Meralco’s refund rate, adds Zaldarriaga, will be reflected as a separate line item in the bills of the customers during the refund period.
This projected decrease in power rates will continue the downward trend in the cost of electricity, with overall rates having decreased by more than 1 peso per kilowatt hour since the start of 2020.