Power generators to bear cost of 'regulated prices'


Posted at Mar 12 2014 11:30 PM | Updated as of Mar 13 2014 07:30 AM

MANILA, Philippines – Energy Secretary Jericho Petilla and the Energy Regulatory Commission (ERC) said power generators will cover all or most of the difference between the market prices late last year and the much lower recalculated prices out next week.

The regulated price that will be factored in to the generation charge will be the same amount Meralco and other power distributors will have to pay power suppliers.

Petilla said this is to be fair and attain a balance between consumers and investment, adding that this arrangement won't deter power companies and other investors from expanding or building more power plants in the country. -- ANC