Your electricity bill gets more expensive this November

Electricity bills are heading higher again this November, with Meralco customers facing an additional ₱98 on a typical monthly bill as the cost of generating power continues to climb.

Manila Electric Co. (Meralco) is raising its electricity rate by ₱0.4895 per kilowatt-hour (kWh), bringing the rate to ₱15.5510 from ₱15.0615 in October. The adjustment comes as imported fuel becomes more expensive amid a weaker peso and continuing tensions in the Middle East.

The increase highlights how exposed Philippine electricity costs remain to developments in the global energy market. First Gas and Prime CoreGen, which rely on natural gas to generate electricity, faced higher costs after Malampaya’s quarterly repricing and increased use of imported liquefied natural gas (LNG).

The peso’s depreciation added to the burden, with around 86% of the two companies’ costs denominated in US dollars.

Electricity demand also picked up as warmer October temperatures pushed Luzon’s average demand up by around 769 megawatts, driving wholesale electricity spot market prices higher.

Consumers will get some relief from a new Energy Regulatory Commission-approved refund of ₱0.1733 per kWh, which Meralco will implement over six months. Two earlier refunds totaling ₱1.0139 per kWh are also still being applied.

Even with these refunds, however, households will face a higher November rate, adding to the cost of keeping homes powered.