As a wife and mother who manages a household, electricity consumption is always something I constantly keep an eye on. I freak out when our monthly goes overboard, but I also rejoice when our bills are significantly lower than usual.
Speaking of rejoicing, I am super happy about Meralco’s recently announced decrease in power rates for the month of February. It’s actually the second month in a row that they have made such an announcement. This is really good news for us consumers!
Incoming technical jargon to further explain the decrease. Read on because there is more good news below.
The overall rate for a typical household consuming 200kWh decreased by P0.59 to P8.86 per kilowatt hour (kWh) — its lowest level in two years, from last month’s P9.45 per kWh. To give you a better understanding, such a household will see a decrease of around P118 for their total electricity bill this month.
Basically, the reason of this reduction is because of a lower generation charge after the implementation of new Power Supply Agreements (PSAs) starting last December 26.
The back-to-back rate decreases to start the year total to P1.00 per kWh and it’s delightfully unusual that it goes against the usual trend of February rates increasing, as seen in the previous five years.
The generation charge for February decreased to P4.51 per kWh thanks to Meralco’s prudent and strategic partnerships with power suppliers and the resulting new PSAs, such as San Miguel Energy Corporation, South Premiere Power Corporation, and AC Energy, who charge a lower generation cost. Charges from the Wholesale Electricity Spot Market (WESM) were also lower this month.
These lower prices from the new PSAs and the WESM — which accounted for 44% of the total supply — offset the cost of power from Meralco’s Independent Power Producers and old PSAs, which increased to P5.29 per kWh.
More good news from Meralco!
With these new PSAs providing lower generation costs, the public (that’s us!) can expect consistently low power bills with energy-efficient use of appliances and devices at home. This allows us to allocate a bigger budget for other household and family needs. Yay!
Lower your electricity bill some more with these tips
To further improve and lower our electricity consumption, here are a couple more energy efficiency tips and initiatives that you can follow at home:
- Unplug your appliances when not in use to avoid “phantom load”
- When using the aircon, put it at mid-setting or at 25 degrees Celsius
- Use a power board or strip to supply power to several appliances at once
- Maximize natural light during daytime
- Make sure that your appliances are well-maintained to ensure optimal performance
Thank you, Meralco, for some very welcome news to start 2020 on a high note. Looking forward to happier times ahead for us consumers.