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MANILA, Philippines — Manila Electric Co. (Meralco) said recent power rate hikes stemmed from higher generation charges driven by soaring fuel prices, peso depreciation amid the Middle East conflict, and the government’s shift to natural gas and suspension of new coal-fired power plants.
In a statement sent to Inquirer.net on Friday, Atty. Jose Ronald V. Valles, Meralco senior vice president and head of regulatory management, these factors affecting generation charges are beyond the company’s control.
READ: 48 power utilities charge higher rates
“Power from natural gas is generally more expensive than coal, even before this period of geopolitical tensions,” Valles said.
