So I was browsing my Facebook feed a couple of days ago and came across this:
In light of everything that’s been happening all over the world this comes as great news to us consumers and we could use the money for some other necessary expense, or just add it to our savings.
According to the post, its the second month in a row, that Meralco announced a decrease in power rates for February.
For a typical household consuming 200kWh the overall rate decreased by P0.59 to P8.86 per kilowatt hour (kWh). This is the 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.
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 are a bit odd as the trend is to see February rates increasing as seen in the past five years.
The explanation furthers,”‘generation charge for February decreased to P4.51 per kWh thanks to 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. 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.
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.
More Energy efficiency tips
We might still be feeling the cold air, but summer is definitely just a few weeks away. And as you know summer is when our electricity bills usually go up becasue of the heat. So here are some energy efficiency initiatives at home to help manage your electric consumption
- Unplug appliances when not in use to avoid “phantom load”
- Keep the aircon at mid-setting or at 25 degrees Celsius
- Using a power board or strip which can supply power to several appliances at once
- Maximizing natural light during daytime
- Keeping appliances well-maintained to ensure optimal performance.
For more details you can watch this video: