ERC expects decision on rate reset to be out not later than October: solon

Vivienne Gulla, ABS-CBN News

MANILA - The Energy Regulatory Commission expects the decision on the reset of power transmission rates to be out not later than October, according to a lawmaker. ERC’s budget sponsor at the House of Representatives, Camarines Sur 4th District Rep. Arnie Fuentebella issued the statement during the plenary deliberations on ERC’s proposed 2024 budget. The reset is a regulatory exercise, which seeks to check whether the allowed revenues of the National Grid Corporation of the Philippines are still reflective of current costs. “Last year, ‘yung ERC ay nag-promise that the rate reset for tariff adjustment for NGCP will bring down electricity rates for consumers. But that did not happen yet. Ano po ang nangyari?” ACT Teachers Party List Rep. France Castro asked. “Regarding sa ating reset, sinusulat na po ang desisyon, and anytime, sana po this week, or bago matapos ang Oktubre, lalabas na po ang desisyon regarding sa reset. And we are talking about the one reset pa lang. ‘Pag natapos po yun, may susunod pa po,” Fuentebella replied. "Supposedly last September 22, but since nirereview ito nang maigi, before matapos ang Oktubre ay lalabas na ang first reset natin,” he added. “Kung bumaba na ang generation rates from 8.7 to 6.9 mula January to August, dapat mayroon na kayo nito. Mayroon na rin dapat reset of tariff adjustment, para ma-realize natin ‘yung pagbaba talaga ng electricity rate para sa ating mga kababayan. Aasahan natin itong result ng pagre-reset ng tariff adjustment for NGCP next month,” Castro said. “Hindi matatapos ang Oktubre, lalabas na ‘yan by this week pwede na rin lumabas ‘yan,” Fuentebella assured the lawmaker. The lower house terminated on Monday afternoon the plenary debates on ERC’s proposed 2024 budget.RELATED VIDEO<figure class='op-interactive'><iframe allow='autoplay; fullscreen' frameborder='0' height='100%' id='ivsplayer01' scrolling='no' src='https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&key=e8c22c015ca9eafa76f1e3edfa03c603&spid=3001339&vid=2758756' width='100%'></iframe></figure><div class='iwantbar'>Watch more News on <a href='https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news' target='_blank'>iWantTFC</a></div>

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MANILA - The Energy Regulatory Commission expects the decision on the reset of power transmission rates to be out not later than October, according to a lawmaker. ERC’s budget sponsor at the House of Representatives, Camarines Sur 4th District Rep. Arnie Fuentebella issued the statement during the plenary deliberations on ERC’s proposed 2024 budget. The reset is a regulatory exercise, which seeks to check whether the allowed revenues of the National Grid Corporation of the Philippines are still reflective of current costs. “Last year, ‘yung ERC ay nag-promise that the rate reset for tariff adjustment for NGCP will bring down electricity rates for consumers. But that did not happen yet. Ano po ang nangyari?” ACT Teachers Party List Rep. France Castro asked. “Regarding sa ating reset, sinusulat na po ang desisyon, and anytime, sana po this week, or bago matapos ang Oktubre, lalabas na po ang desisyon regarding sa reset. And we are talking about the one reset pa lang. ‘Pag natapos po yun, may susunod pa po,” Fuentebella replied. "Supposedly last September 22, but since nirereview ito nang maigi, before matapos ang Oktubre ay lalabas na ang first reset natin,” he added. “Kung bumaba na ang generation rates from 8.7 to 6.9 mula January to August, dapat mayroon na kayo nito. Mayroon na rin dapat reset of tariff adjustment, para ma-realize natin ‘yung pagbaba talaga ng electricity rate para sa ating mga kababayan. Aasahan natin itong result ng pagre-reset ng tariff adjustment for NGCP next month,” Castro said. “Hindi matatapos ang Oktubre, lalabas na ‘yan by this week pwede na rin lumabas ‘yan,” Fuentebella assured the lawmaker. The lower house terminated on Monday afternoon the plenary debates on ERC’s proposed 2024 budget.RELATED VIDEO

The Energy Regulatory Commission expects the decision on the reset of power transmission rates to be out not later than October. 

ERC expects decision on rate reset to be out not later than October: solon | ABS-CBN News

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ERC expects decision on rate reset to be out not later than October: solon

ERC expects decision on rate reset to be out not later than October: solon