Customers of Manila Electric Co. can expect their electricity bills to go down in February after the new power supply agreements of the country’s biggest power distributor took effect starting January this year.
Manila Electric Co. (Meralco), the country’s biggest power distributor, is set to give starting this month over a billion pesos to its customers representing interest payments on their electricity bill deposits.
Manila Electric Co., the country’s biggest power distributor, will increase its distribution, supply and metering charges by 3 centavos a kilowatt-hour to P1.6303 starting next month.
Manila Electric Co., the country’s biggest power distributor, expects electricity sales volume to have grown by as much as 10 percent in the first three months of 2012 compared to the same quarter of last year, reflecting robust and increased economic activity in the Philippines.
Aboitiz Power Corp. saw its bottomline drop 14 percent year-on-year in 2011 to P21.6 billion from P25 billion.
The First Pacific group cemented its majority control of power distributor Manila Electric Co. by acquiring an additional 2.66 percent stake in the company from the Lopez group for P8.85 billion.
