The Energy Regulatory Commission (ERC) of the Philippines has granted approval to the Manila Electric Company (Meralco) to increase the electricity rate from March to May 2017. The ERC has allowed a tariff rate increase of PhP 0.2211 per kWh during this period. However, the approved tariff adjustment is lower than what Meralco had applied for. The company had requested approval for a rate hike of PhP 0.30 per kWh in March-April, and PhP 0.3174 per kWh in the month of May. The ERC’s computation differed as it reflected lower fuel costs. While the ERC factored in PhP 1.752 billion as the fuel cost of the previous months, Meralco’s proposal was computed on the basis of forecast fuel costs of PhP 2.417 billion.
