THE Energy Regulatory Commission (ERC) 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’s 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 (NGCP) 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’s 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.
He added: “Supposedly last Sept. 22, but since nire-review 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.
The lower house terminated on Monday afternoon, Sept. 25, the plenary debates on ERC’s proposed 2024 budget. (ABS-CBN News)
