Meralco defends power rates

Following recent comparisons by a rural power group and the National Electrification Administration (NEA), Manuel V. Pangilinan-led Manila Electric Co. (Meralco) has defended its electricity rates, stating the utility aims to balance affordability with long-term power reliability.

- By GABRIELL CHRISTEL GALANG

In a statement on Friday, Aug. 8, the country’s largest distribution utility (DU) emphasized that its rates reflect regulatory compliance, cost efficiency, and the need to procure enough power to meet demand.

Meralco noted that its distribution rate has been unchanged for 10 years and is one of the lowest among all distributors in the country, including electric cooperatives (ECs).

“Among all distributors, Meralco’s rate falls in the bottom 30 percent,” the company said. It also cited that its latest approved weighted average cost of capital (WACC) is the lowest granted by the Energy Regulatory Commission (ERC) for any private DU.