Meralco power rates to increase in September - BusinessWorld Online bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
Manila Electric Co. (Meralco) will refund a total of P7.76 billion in over-recoveries to its consumers starting this month over a period of one year, following an order from the Energy Regulatory Commission (ERC).
Meralco gets DOE go-signal to bid out 180-MW capacity philstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from philstar.com Daily Mail and Mail on Sunday newspapers.
Manila Electric Co. is urging generation companies to participate in the competitive bidding which is aimed at adding 170 megawatts of peaking power in its franchise area to address demand spikes during the dry months and election period.
USPLASH
Based on average power demand in the Luzon-Visayas grids for January and February, the Philippines’ first quarter 2021 GDP seems to point to a -5% contraction with a -6.7% power demand contraction in January and a -4.8% contraction in February.
Data from the Independent Electricity Market Operator of the Philippines (IEMOP) further shows that electricity prices at the Wholesale Electricity Spot Market, the customer effective spot settlement price (ESSP) and load-weighted average price (LWAP) remain low in January and February, reflecting low demand relative to supply (see Table 1).
The indefinite lockdown policy of the government, turning exactly one year this coming March 15, remains the single biggest source of business uncertainties and economic contraction.