Manila Electric Co. (Meralco) says recent power rate increases are driven mainly by higher generation charges linked to global fuel prices and currency movement. In statements to Inquirer.net, Meralco officials attribute the changes to soaring fuel costs and the weakening Philippine peso, which they say are intensified by geopolitical tensions in the Middle East. Meralco also points to policy and supply-side developments affecting the mix of power sources. The company says the government’s shift toward natural gas leads to more expensive generation compared with coal, even before the current period of geopolitical tensions. Meralco further cites the suspension of new coal-fired power plants, which it says affects future supply considerations and generation costs. The company states these factors largely fall outside its direct control, emphasizing that the rate adjustments reflect cost drivers in the generation and procurement side of the power system rather than changes in its own operations alone.