File photo/THEPHILBIZNEWS/NCB The Manila Electric Company (Meralco) announced today that overall rate for a typical household went down by P0.0746 per kWh to P9.7027 per kWh from last month's P9.7773 per kWh. This is equivalent to a reduction of around P15 in the total bill of residential customers consuming 200 kWh. Lower generation charge dragged down overall electricity rates Generation charge in January decreased by P0.1081 per kWh to P5.4262 per kWh from last month's P5.5343 per kWh, on the back of lower costs from Power Supply Agreements (PSAs) and Independent Power Producers (IPPs) that more than offset the higher charges from the Wholesale Electricity Spot Market (WESM). PSA and IPP rates registered reductions of P0.4375 and P0.0543 per kWh, respectively. The higher share of excess energy deliveries of AC Energy plants and lower coal prices contributed to the reductions.