"We are already finalizing the resolutions, so within this February," the ERC chief said, emphasizing that PSA approvals will be extended to the aggregate 1,700-MW capacity that the utility firm had cornered through the series of competitive selection processes (CSPs) carried out in September last year. In fact, for the February billing of Meralco this year, it is anticipated that the lower rates from its provisionally approved PSAs will already be felt by its customers – and will be part of the factors that will drive down the generation charge component on its overall pass-on tariff. In the 1,200-MW capacity procured by Meralco for its baseload capacity needs, the calculated reduction in power rates will be as much as ₱0.41 per kilowatt hour (kwh) for the 10-year duration of the supply contracts. On the consumers' pockets, that will redound to overall savings of ₱13.86 billion annually or aggregate ₱138.60 billion within the decade-stretch of the contracts.