PERHAPS an early gift to consumers, as fuel and electricity prices are expected to take a drop next week.
Meralco Spokesman Joe Zaldarriaga said that for the December billing, he projects a significant price cut in the overall electricity rates.
It is due to the prices in the wholesale electricity spot market, with the minimal outages of power plants.
Likewise, the demand has slowed down with temperatures in the country cooling down with power consumption going down by 400 MW.
Zaldarriaga said that he is estimating the reduction to be more than P0.50/kwh.
He clarified that it is not yet final.
They are set to make the announcement on Tuesday, December 12.
Meanwhile oil prices are expected to have a huge rollback, as based on the first 4 trading days in the mean of PLATTS Singapore, the diesel price could go down by almost P2 per liter, gasoline price down by P1.81 per liter and kerosene went down to P1.34.