ERC warns of higher electricity rates as temperatures rise | ABS-CBN
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ERC warns of higher electricity rates as temperatures rise
ERC warns of higher electricity rates as temperatures rise
MANILA — The Energy Regulatory Commission has alerted consumers of higher electricity rates as temperatures rise in the last few days.
MANILA — The Energy Regulatory Commission has alerted consumers of higher electricity rates as temperatures rise in the last few days.
After prices on the spot market dipped to their lowest in February at P2.71/kwh, spot prices suddenly shot up as the heat index soared in recent days.
After prices on the spot market dipped to their lowest in February at P2.71/kwh, spot prices suddenly shot up as the heat index soared in recent days.
On March 2, the average price on the spot market reached P6.64/kwh, which almost doubled the next day March 3 to P12.15/kwh.
On March 2, the average price on the spot market reached P6.64/kwh, which almost doubled the next day March 3 to P12.15/kwh.
ERC Chairperson Monalisa Dimalanta said consumers must not expect a reduction in the April billing due to higher priced electricity on the spot market this month.
ERC Chairperson Monalisa Dimalanta said consumers must not expect a reduction in the April billing due to higher priced electricity on the spot market this month.
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Meralco sources over 30% of its supply from the spot market while other electric cooperatives get half or even their full power needs from the market.
Meralco sources over 30% of its supply from the spot market while other electric cooperatives get half or even their full power needs from the market.
Dimalanta said that as electricity prices soar in the spot market, the ERC is likely to rule on Meralco's petition for a refund that will mitigate the expected spike in power rates.
Dimalanta said that as electricity prices soar in the spot market, the ERC is likely to rule on Meralco's petition for a refund that will mitigate the expected spike in power rates.
Meralco is offering a refund of P19 billion for overcollection from 2022 to 2024.
Meralco is offering a refund of P19 billion for overcollection from 2022 to 2024.
Meralco says that translates to a refund of around P0.19/kwh for three years for residential customers.
Meralco says that translates to a refund of around P0.19/kwh for three years for residential customers.
But National Association of Electricity Consumers for Reforms president Pete Ilagan said Meralco should implement a one-time big time refund so that consumers can feel the benefit.
But National Association of Electricity Consumers for Reforms president Pete Ilagan said Meralco should implement a one-time big time refund so that consumers can feel the benefit.
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Ilagan said consumers should also have the option to get the refund in cash.
Ilagan said consumers should also have the option to get the refund in cash.
But Dimalanta acknowledged it will be difficult and tedious to do a cash refund, while credit to bill will be more efficient.
But Dimalanta acknowledged it will be difficult and tedious to do a cash refund, while credit to bill will be more efficient.
According to Dimalanta, the ERC is still studying if the pay-out period can be shorter than the three years that Meralco wants.
According to Dimalanta, the ERC is still studying if the pay-out period can be shorter than the three years that Meralco wants.
Meanwhile, several plants bogged on Wednesday, causing a yellow alert that afternoon to early evening. A yellow alert is declared when electricity reserve is insufficient.
Meanwhile, several plants bogged on Wednesday, causing a yellow alert that afternoon to early evening. A yellow alert is declared when electricity reserve is insufficient.
Energy Assistant Secretary Mario Marasigan says there was an increase in forecasted demand due to higher temperature.
Energy Assistant Secretary Mario Marasigan says there was an increase in forecasted demand due to higher temperature.
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With the some plants going back online and new power facilities, Marasigan said there will be no more yellow alerts this week.
With the some plants going back online and new power facilities, Marasigan said there will be no more yellow alerts this week.
In January, the Department of Energy announced that there will be no yellow or red alert this summer due to sufficient supply.
In January, the Department of Energy announced that there will be no yellow or red alert this summer due to sufficient supply.
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