00:00To Meralko's customers, the stock exchange is now ready for the high price that will start in October.
00:07It has been approved by the Energy Regulatory Commission and is possible to last until the next year.
00:14Maris Umali has the news.
00:19Tonio says that he feels nervous and scared whenever they receive their Meralko bill because of the high price.
00:27But it looks like it will last longer if there is a new increase in the price of electricity in the next 12 months, starting this October.
00:36I'm just crying because it's hard. Everything is rising. We are pitiful.
00:47The Energy Regulatory Commission or ERC has approved Meralko's request to ask the customers
00:54for a higher price for plants that use natural gas.
00:58We expect an increase of 30 centavos per kilowatt-hour in the initial estimate of the ERC.
01:05They will be pushed back from January to August because they haven't increased yet.
01:12There will be an additional 2 centavos over the next 12 months.
01:17So in total, our initial estimate is 32 to 33 centavos per kilowatt-hour.
01:25Meralko's ERC should pay more attention to the supply from other plants that are cheaper.
01:33But it's possible that Meralko's customers won't be able to fill higher prices of natural gas for just one year.
01:39Until October next year for the recovery from January.
01:44But we expect a higher price.
01:47As long as Meralko's contract with natural gas plants is alive, this will be the estimated price,
01:52unless they can source a lower LNG or the rate of pollution decreases.
01:59As of now, until 2025 and 2027, Meralko's contract with two natural gas plants is
02:05First Gas Power Corporation and FGP Corporation.
02:09For GMA Integrated News, Maryse Umali-Nagtutok, 24 Hours.
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