Manila Electric Company (Meralco) said power bills will go down to P1.43 per kilowatt hour for residential households, bringing down overall rate from last month’s P9.60 per kilowatt hour to P8.17 per hour.

In a statement on Thursday, Meralco said the rate decrease for June “amounts to a P285 decrease in the total bill of a residential household consuming 200 kilowatts per hour.

The overall rate is the second lowest since December 2009, Meralco said.

The June rate reflects the refund of over-recovery on pass-through charges from January 2014 to December 2016 totaling around P6.9 billion.