Here’s how much electricity bills will rise due to TRAIN
Spoiler alert: It won’t exceed P20 given this computation.
The Department of Finance (DOF) allayed fears that the Tax Reform for Acceleration and Inclusion law will cause the prices of basic goods and services to skyrocket, as the impact is softer than what is expected.
Finance Secretary Carlos Dominguez III said consumers should not dread a big increase, as computations made by his agency showed a net increase of P13 per 100 kilowatt hour (kWh) of electricity consumed.
“Those who consume 100 kilowatt hours per month pay about P780 per month, they will only pay an additional P2 due to coal and P13 more with the oil and excise VAT (value-added tax). Essentially if you were paying P780 a month on your electricity, you will be paying now about P793 a month,” Dominguez said in a press briefing in Malaca?ang.
The figure factors in an increase in oil prices and the additional two centavos per kWh impact of higher taxes on coal.
It may not be too bad after all.