MANILA -- Electricity rates are dropping by P0.22 per kilowatt-hour (kWh) in January, Meralco said Monday.

This means electricity bills will fall by the following amounts:

Consumption   Decrease
200 kwh           P44
300 kwh           P66
400 kwh           P89
500 kwh           P112

In a statement, Meralco said this month’s generation charge went down to P6.8358 per kWh due to lower charges from the Wholesale Electricity Spot Market (WESM), which fell by P0.8840 per kWh.

The generation charge from Independent Power Producers (IPPs) also slipped by P0.1593 per kWh.

The power distributor said WESM charges dipped due to more power supply in the Luzon grid, because average peak demand dropped by 471 MW. 

Meanwhile, independent producers' charges went down because of the rise of the peso.

Transmission and other charges decreased by P0.0876 per kWh.

In December, power rates climbed by P0.1048 per kilowatt-hour. 

More details to follow.