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NewsTranscript
00:00A new oil price hike is expected next week, according to the Department of Energy.
00:06According to the Energy Regulatory Commission,
00:09it is possible for Meralco to increase its sales for the next few months until next year.
00:14Mary Zumali is a witness.
00:20Whenever Judith or Judate arrives,
00:22the Meralco customer, Tonio, gets nervous.
00:25I'm just crying.
00:27Because...
00:31It's so hard. Everything is rising.
00:33Then, you'll know that it's still rising.
00:38The current.
00:41We're pitiful.
00:42There are three cents per kilowatt-hour added to the announcement
00:46for the month of August.
00:48And according to the Energy Regulatory Commission,
00:50it is possible to follow that for the next 12 months from this October.
00:54The ERC approved Meralco's request
00:57to ask customers for a higher price
01:00from plants that use natural gas.
01:03What we're expecting is a 30 cent per kilowatt-hour increase
01:08in the initial estimate of the ERC.
01:11They're going to catch up on January to August
01:14that they haven't raised yet.
01:17So, there's an additional 2 cents over the next 12 months.
01:23So, in total, it's around 32 to 33 cents
01:28in our initial estimate per kilowatt-hour.
01:32Meralco's ERC says
01:34they should pay for the supply from other plants
01:37that are cheaper.
01:39It's possible that not until next year
01:41will Meralco's customers pay a higher price for natural gas.
01:45Until October next year for the recovery from January.
01:50But we're expecting a higher price
01:53as long as Meralco's contract with natural gas plants is alive.
01:56This will be the estimate
01:58unless they can source a lower LNG
02:02or the rate of pollution decreases again.
02:05As of now, until 2025 and 2027,
02:08Meralco's contract is with two natural gas plants,
02:11First Gas Power Corporation and FGP Corporation.
02:16Next is the big-time oil price rollback this Tuesday.
02:19High prices are expected for oil products next week.
02:23According to the Department of Energy Oil Industry Management Bureau,
02:27based on 4-day trading,
02:28a possible increase in gasoline is up to 90 cents.
02:31Diesel and kerosene,
02:33a possible increase of more than a peso per liter.
02:36According to DOEOIMB,
02:38one of the reasons for the high prices
02:40is rising tensions in the Middle East.
02:43For GMA Integrated News,
02:45I'm Maris Umali.
02:46Saksi!
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