Meralco customers can expect a significant increase in their electricity bills for the upcoming July 2024 billing cycle. This substantial hike is a result of rising electricity prices in the spot market and from other power suppliers.
The overall increase is P2.15 per kilowatt-hour (kWh), which will significantly impact households and businesses. For customers who consume 200 kWh per month, this means an additional P430 on their bill. Those consuming 300 kWh can expect a rise of P645, while those using 400 kWh will see an increase of P860. Customers with a consumption of 500 kWh will experience a hike of P1,075.
This increase is driven by several factors, including the continuous rise in crude oil and natural gas prices in the global market, primarily used in power generation. Additionally, the shortage of electricity supply from hydroelectric plants due to the El Niño phenomenon has led to higher demand for other power sources with higher prices.
The sudden price increase has caused concern among many households and businesses still recovering from the pandemic’s effects. Many are worried about how they will cope with higher electricity bills alongside the rising prices of essential goods.
Meralco recently provided some tips for those looking to reduce their electricity consumption. These include using energy-efficient appliances, turning off lights and devices when not in use, and regularly maintaining electrical appliances to ensure they are in good condition and do not consume more power than necessary.
Meralco will continue to conduct information campaigns to guide its customers in more efficient electricity use. Despite this significant increase, Meralco hopes that through cooperation and collective effort, the impact of rising electricity prices on every Filipino family can be alleviated.
As the country faces these challenging times, Meralco remains committed to finding solutions to help its customers manage their electricity consumption effectively. The company is also exploring alternative energy sources and technologies to provide more sustainable and affordable electricity options in the future.