Tag: rates
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Electricity Rates Expected to Rise Amid Summer Heat and Election Campaigns
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MANILA, Philippines — Electricity rates in the country’s power spot market may increase in the coming months as demand rises due to hotter temperatures and political campaign rallies. The Wholesale Electricity Spot Market (WESM), where electricity is traded, recorded an average price of P2.96 per kilowatt-hour (kWh) last month, the…
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Visayan Electric Lowers Residential Rates by P0.68/kWh for Holiday Season, Advises Energy-Saving Practices
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Residential consumers of Visayan Electric will experience a reduction of P0.68 per kilowatt-hour (kWh) in their December to January billing cycle. This adjustment lowers the overall residential rate from P12.19/kWh to P11.51/kWh, equating to savings of at least P136 for households consuming 200 kWh. The decrease is primarily due to…
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BSP chief says ‘a little bit less likely’ to cut rates
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THE BANGKO SENTRAL ng Pilipinas (BSP) is now “a little bit less likely” to cut rates at its Aug. 15 meeting after inflation breached the 2-4% target band in July, its governor said. “A little bit less likely (to ease) because inflation is high. But we have to look at…
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BSP sees room to keep rates steady
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THE PHILIPPINE central bank would probably keep policy settings on hold given “evolving inflation conditions,” Governor Eli M. Remolona, Jr. said on Monday, even as he signaled a less restrictive stance if price pressures continue to ease.
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High rates seen to weigh on growth
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METROPOLITAN Bank & Trust Co. (Metrobank) Research trimmed its gross domestic product (GDP) forecast for the Philippines this year as elevated interest rates continue to crimp domestic demand.
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Philippines likely to post one of the fastest growth rates in Asia this year, 2025 — IMF
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THE PHILIPPINES will likely post the second-fastest growth in Asia this year and in 2025, the International Monetary Fund (IMF) said. In its latest World Economic Outlook report, the IMF maintained its gross domestic product (GDP) growth forecast for the Philippines at 6% this year and 6.2% in 2025. If…
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Meralco rates up by P2 per kWh in July as power costs ‘normalize’
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HOUSEHOLDS SERVED by Manila Electric Co. (Meralco) will face higher power bills this month as rates go up by more than P2 per kilowatt-hour (kWh) due to a normalization in power costs.
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Meralco rates to go down by almost P2 per kWh in June
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RESIDENTIAL CUSTOMERS served by Manila Electric Co. (Meralco) will see a nearly P2 per kilowatt-hour (kWh) reduction in their electricity bills this month, instead of the previously announced rate hike. Meralco made the announcement after the Energy Regulatory Commission (ERC) ordered all distribution utilities and electric cooperatives to implement a…
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June Meralco rates jump amid higher generation charge
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TYPICAL HOUSEHOLDS in areas served by Manila Electric Co. (Meralco) will have to pay higher electricity bills this month, even as the utility deferred the collection of a portion of generation costs. Meralco in a statement on Thursday said the overall rate will increase by P0.6436 per kilowatt-hour (kWh) to…
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Meralco warns power rates to go up in June
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POWER RATES are expected to go up this month, due to higher settlement costs in the reserve market and the implementation of the new feed-in tariff allowance (FIT-All) rate, according to Manila Electric Co. (Meralco). A spike in generation charges amid tight supply, coupled with the peso depreciation, might also…