Meralco Electricity Rate History (₱/kWh, 2021-2026)
TL;DR
Meralco's all-in residential rate has climbed from a pandemic low around ₱8.25/kWh in March 2021 to a record ₱14.35/kWh in April 2026, reaching about ₱14.83/kWh by July 2026 — roughly a 70-80% rise in five years. The generation charge (over half the bill) drove most of it. Rising rates are exactly what shorten solar payback, since every kWh you self-generate offsets more expensive grid power.
Meralco’s all-in residential rate has risen from a pandemic low of about ₱8.25/kWh in March 2021 to a record ₱14.35/kWh in April 2026, and to roughly ₱14.83/kWh by July 2026 — a jump of around 70-80% in five years. Most of that increase came from the generation charge, which makes up more than half of a typical bill and moves month to month with fuel prices and power-supply conditions.
How the Meralco rate has moved
These are verified reference points from Meralco’s own rate advisories. The rate is set monthly, so figures between these points vary — treat this as the trend, not a complete month-by-month record.
| Period | All-in residential rate (₱/kWh) | Note |
|---|---|---|
| March 2021 | ~₱8.25 | Pandemic low — demand collapse pulled generation costs down |
| January 2026 | ~₱12.95 | Rates already well above pre-pandemic levels |
| April 2026 | ₱14.35 | Record high at the time |
| June 2026 | ~₱14.48 | Continued fuel-driven increases |
| July 2026 | ~₱14.83 | Roughly 70-80% above the 2021 low |
Why the generation charge drives it
A Meralco bill is built from several components — generation, transmission, distribution, taxes, and other pass-through charges. The generation charge is the largest, usually more than half the total, and it’s the one that swings. It rose from around ₱7.86/kWh (March 2026) to ₱8.39/kWh (April 2026) and to roughly ₱9.25/kWh by July 2026. The distribution charge — Meralco’s own take — has been comparatively flat, unchanged for a typical residential customer since a small reduction in August 2022. So when your bill jumps, it’s almost always generation, not distribution.
What rising rates mean for rooftop solar
This is the part that matters if you’re weighing solar. Your savings come from not buying grid power during the day — every kWh your panels produce and you use is a kWh you don’t pay Meralco for. When the grid rate climbs from ₱11 to nearly ₱15, that same rooftop system offsets more expensive power, so it saves more pesos each month and pays back faster. It’s why payback periods that used to be quoted at 5-7 years now often land closer to 3 to 5 years in Meralco territory.
Note the flip side for net metering: power you export is credited only at the generation cost (around ₱5-7/kWh), well below the retail rate you avoid by self-consuming. So rising retail rates reward using your solar during the day far more than exporting it — which is why sizing for daytime use pays back best.
Put your own numbers in
To see what today’s rates mean for your bill, run it through the solar panel calculator or the cost calculator — both use current Philippine rates to estimate your system size, savings, and payback. For the exact current Meralco rate, check your latest bill or Meralco’s monthly rate advisory at company.meralco.com.ph.
Frequently asked questions
What is the Meralco rate per kWh right now?
As of July 2026, the all-in residential rate is roughly ₱14.83/kWh. It changes monthly with the generation charge, so check your latest bill or Meralco's rate advisory for the exact current figure.
What was the lowest Meralco rate in recent years?
Around ₱8.25/kWh in March 2021, during the pandemic when commercial and industrial demand collapsed and pulled generation costs down. That's the low point the current rate is measured against.
Why has the Meralco rate gone up so much?
Mostly the generation charge, which is more than half the bill and moves with fuel prices, plant availability, and spot-market conditions. Distribution and transmission charges have been comparatively flat, so the swings you feel are largely generation.
What does the rate trend mean for solar?
Higher rates make solar pay back faster. Solar savings come from not buying grid power during the day, so when each grid kWh costs ₱14-15 instead of ₱11, the same rooftop system saves more pesos and the payback period shrinks.
Where can I get the full month-by-month rate archive?
Meralco publishes monthly rate advisories in its news and rates archive at company.meralco.com.ph. This guide summarizes the trend and key data points rather than every month.