Meralco to hike rates as ERC approves P4-B cost recovery

Starting in September, Meralco's millions of customers in the Philippines will face higher electricity rates due to the Energy Regulatory Commission's approval of the company's request to recover over P4 billion in costs associated with a subsidiary's gas plant. This decision is significant as it directly impacts household budgets and could affect economic activities, especially for those relying on affordable energy costs. The approval reflects regulatory measures to balance financial sustainability for power providers while considering the broader economic implications for consumers.