June power rates to rise as distribution rate refund ends

June power rates to rise as distribution rate refund ends READ MORE:

“We may expect an increase in rates this June mainly due to the completion last May of the final distribution rate true-up refund,” Meralco vice president and head of utility economics Lawrence Fernandez said.

“Lower coal market prices and our recent implementation of emergency power supply agreements to shield consumers from volatility of the spot market may result in lower generation costs. We hope that it will be a mitigating factor,” Meralco vice president and spokesman Joe Zaldarriaga said.

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