Manila, Sept. 18 -- Residential consumers will see a PHP1.56 hike for every kilowatt-hour (kWh) in their electricity bill this September, equivalent to a PHP12.44/kWh from last month's PHP10.19 per kWh.

The commercial rate is now PHP11.76/kWh, up from PHP10.19/kWh last month.

"The recent yellow alert status advisories from the National Grid Corporation of the Philippines (NGCP) last August have triggered an increase in the cost of power in the spot market," MORE Electric and Power Corporation (MORE Power) said in a statement on Thursday.

MORE Power vice president for corporate energy sourcing and regulatory affairs, Niel Parcon, explained that a yellow alert is issued when "the supply margin falls below the capacity of the largest gene...