Power rates down this NovemberDate Published: November 12, 2014
Generation charge lowest in 2014
Power rates will go down by P0.41 per kWh in November for a typical household consuming 200 kWh, equivalent to a decrease of around P82 in the bill. The downward adjustment is attributed principally to the reduction in the generation charge.
Less forced plant outages and normal Malampaya operations led to lower generation costs
Generation charge decreased by P0.245 per kWh in November, bringing it to P5.11 per kWh, the lowest level for the year to-date. This month’s decrease was primarily due to the improved availability of power plants and lower cost of fuel for the supply month of October. The Malampaya gas facility likewise did not experience any supply restriction. It will be recalled that last month’s generation costs increased mainly due to a cumulative 5-day Malampaya restriction (September 8-11 and September 21-23), which reduced the fuel supply to Ilijan and forced the First Gas plants to use more expensive alternative fuel. With less incidences of simultaneous forced outages of power plants, the secondary price cap at the Wholesale Electricity Spot Market (WESM) was not triggered during the October supply month and WESM charges registered a reduction of P25.61 per kWh. Charges from Independent Power Producers (IPPs) and Power Supply Agreements (PSAs), meanwhile, registered reductions of P0.54 per kWh and P0.03 per kWh, respectively. In terms of share to Meralco’s total power requirements for the October supply month, WESM, IPPs, and PSAs accounted for 5, 47, and 48 percent, respectively.
Reductions in other bill components
Contributing also to the overall downward adjustment in the bills to households is the P0.083 decrease in the transmission charge. This was due to the lower ancillary service charges. Taxes, meanwhile, registered a P0.056 decrease per kWh. There was also a cumulative decrease of P0.026 per kWh in subsidies and the system loss charge. Meralco reiterated that it does not earn from the pass-through charges, such as the generation and transmission charges. Payment for the generation charge goes to the power suppliers such as the plants selling to Meralco through the WESM and under the PSAs, as well as the IPPs. Payment for the transmission charge, meanwhile, goes to the National Grid Corporation of the Philippines (NGCP). Of the total bill, only the distribution, supply, and metering charges accrue to Meralco.
LED Christmas Lights
Aside from the reduction brought about by the lower rates, customers can further reduce their electricity bill through our energy saving tips for this Christmas season. For those who are thinking of buying Christmas lights, they may consider buying the LED type. Although relatively more expensive than the conventional Christmas light, the LED type is more efficient in terms of power consumption. Based on tests made at the Meralco PowerLab, LED Christmas lights consume P56 less per month for every strand holding 100 bulbs compared to the conventional type. LED Christmas lights also last 49,000 hours longer compared to their ordinary counterparts. And because they are made of plastic, they do not generate as much heat. For safety purposes, however, it is still best to unplug Christmas lights before going to bed or if nobody will be left at home.
For more energy efficiency and safety tips, customers may visit the Meralco website at www.meralco.com.ph. They may also inquire through the Meralco Call Center at 16211, or post their queries over Meralco’s Twitter account (@meralco) and Facebook page (www.facebook.com/meralco).
Meralco is 2014 Asia's Icon on Corporate GovernanceDate Published: November 5, 2014
Meralco was again awarded for the second straight year as Asia’s Icon on Corporate Governance in the recently concluded 10th Corporate Governance Asia Recognition Awards on October 24 at the Renaissance Harbour View Hotel in Hong Kong.
The Icon Award is the top-notch recognition given to ASEAN-based publicly listed companies for consistently elevating their corporate governance practices and being at the forefront of the corporate governance campaign in the region.
Credited for their adoption of robust approaches to corporate governance principles and practices while enhancing stakeholder and investor value, Meralco Chairman Manuel V. Pangilinan and President & CEO Oscar S. Reyes were distinguished as Corporate Asian Directors of the Year. Mr. Pangilinan received the award as Managing Director and CEO of First Pacific Co., Ltd while Mr. Reyes received it as Director, President & CEO of Meralco.
Atty. Jocelyn C. Villar-Altamira, Head of Corporate Governance and Compliance, Corporate Governance (CG) Officer Ms. Lilian P. Umipig and CG Analyst Ms. Lair Ambrocio attended the awarding ceremony and received the award on behalf of the Company.
Receiving the award on behalf of Meralco are Atty. Jocelyn C. Villar-Altamira, Head of Corporate Governance and Compliance (leftmost), Corporate Governance (CG) Officer Lilian P. Umipig (second from left) and CG Analyst Lair Ambrocio (rightmost). With them is Corporate Governance Asia’s Publisher and Managing Director Aldrin Monsod (second from right).