Its competing bid to offer continuous electricity to Meralco at PHP 2.99/kWh would slash electricity rates by as much as 30%, potentially saving consumers up to PHP 75 billion per year, according to an online statement. Manila - based solar panel manufacturer Solar Philippines could slash electricity prices in the region by up to 30 % , after offering to supply power to Manila Electric Co. ( Meralco ) for PHP2.99 ( $ 0.058)/kWh , compared to an average price of PHP5.44 / kW . The proposal , which could save customers PHP75bn annually , came about after Meralco sought challengers to First NatGas Power ’s unsolicited offer to supply 414 MW , and paves the way for Meralco to examine other renewable energy technologies . Solar Philippines said it would combine its photovoltaic technology with battery storage to provide continuous electricity .
Manila - based solar panel manufacturer Solar Philippines could slash electricity prices in the region by up to 30 % , after offering to supply power to Manila Electric Co. ( Meralco ) for PHP2.99 ( $ 0.058)/kWh , compared to an average price of PHP5.44 / kW . The proposal , which could save customers PHP75bn annually , came about after Meralco sought challengers to First NatGas Power ’s unsolicited offer to supply 414 MW , and paves the way for Meralco to examine other renewable energy technologies . Solar Philippines said it would combine its photovoltaic technology with battery storage to provide continuous electricity .