Philippines' Meralco slashed September rates by Php0.57/kWh

Cuts have been going for five months now.

Manila Electric Co (Meralco) customers will see a PHP0.57/kWh reduction in their electricity bills this Sep, the fifth consecutive month overall electricity rates have been slashed.

According to a research note from Maybank ATR Kim Eng, the overall PHP8.55/kWh rate for Sep is the lowest since January 2010.

Most bill components registered downward adjustments for this billing period, but the biggest reduction was generation charge which decreased by PHP0.42/kWh from last month.

Here's more from Maybank ATR Kim Eng:

This month’s generation charge stands at PHP4.13/kWh, which was the also the lowest since Jan 2010. Transmission charge went down by PHP0.04/kWh, taxes by PHP0.05/kWh and other charges by PHP0.06/kWh.

The distribution charge, which fell in Jul by an average of 11.26%, was unchanged since this item is adjusted annually.

MER noted the downtrend may continue for the rest of the year as consumption normally goes down in the cooler months.