To cushion the impact of higher generation costs incurred in February, the Manila Electric Company (Meralco) said Wednesday it is deferring the collection of P1.1 billion worth of generation charges this month to April and May billing periods.
In a statement, Meralco said it coordinated with its suppliers and the Energy Regulatory Commission for the deferral of a portion of the generation costs for the February supply month.
“The total deferred generation costs of P1.1 billion, equivalent to 40 centavos per kWh , will be collected on a staggered basis in the April and May billing periods as cleared by the regulator,” it said. The ERC, nonetheless, said that the deferred increase shall still be subject to further validation “as to compliance with the underlying power supply agreements and substantiation of any fuel pass through component, as applicable.”
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