Meralco files for a 10.4% slash in electrical charges

It has proposed an interim distribution rate.

Manila Electric Co. has filed to the Energy Regulatory Commission (ERC) to implement an interim distribution rate cut.

According to a research note from Maybank Kim Eng, this represents a 10.4% reduction from the current distribution, supply and metering charges.

The proposed 10.4% reduction is the result of the 2nd Regulatory Period (RP) under-recovery-component which formed part of the average distribution prices approved by the ERC in MER's Final Determination for the 3rd RP.

The 10.4% reduction is uniformly applied across all MER's customer classes and translates to the following reductions in the total bill of residential customers at varying consumption levels: PHP52 for 200kWh; PHP89 for 300kWh; PHP134 for 400kWh; and PHP201 for 500kWh.