Fuel costs, peso depreciation drive power rate hikes—Meralco

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,