Palace assures customers: Electric rates to go down next month

August 7, 2010 11:24 pm 

MANILA, Aug. 7 — Malacañang said on Saturday the 44-centavo per kilowatt-hour (kWh) increase in electric power rates is just temporary and will go down next month, upon completion of the rehabilitation of the San Jose power plant.

The assurance was made by Presidential Spokesperson Edwin Lacierda during an interview with Radyo ng Bayan, citing his conversation with Energy Secretary Jose Rene Almendras earlier.

“Hopefully next month we will have lower prices of electricity,” Lacierda said.

Lacierda said Almendras told him that power produced by the San Jose plant is cheaper but “since we need to renovate it to ensure the long-term efficiency in operation, we have to shut it down for now.”

Power distributor Manila Electric Co. (Meralco) disclosed to the Philippine Stock Exchange that its generation charge rose by 44 centavos per kWh because of the higher prices of wholesale electricity spot market (WESM).

Almendras told Energy reporters Friday that he talked to the operator of WESM, the Philippine Electricity Market Corp., to provide government with details of the current power trading.

Asked what government would do should fuel prices rise once more in the coming days, Lacierda said, “I will consult with Secretary Almendras about this.” The Electric Power Industry Reform Act (EPIRA) allows for power rates to rise according to fuel price increases. (PNA) scs/OPS/rsm

Comments

One Response to “Palace assures customers: Electric rates to go down next month”

  1. Business gas and electricity on August 10th, 2010 5:05 pm

    The Business Energy Exchange is the UK’s leading Business Energy Price Comparison service. We compare energy prices from a wide range of UK energy suppliers and constantly looks to drive down prices giving you the most competitive rates available.