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Manila Bulletin devider Business devider ERC to submit NGCP performance review to BBM by December

ERC to submit NGCP performance review to BBM by December

Published Aug 8, 2024 06:46 am

At A Glance

  • The President had ordered the ERC to speed up the process of evaluation and approval in the tariff adjustment for NGCP as that is greatly seen helping lower the cost of electricity being billed to all Filipino ratepayers.

The Energy Regulatory Commission (ERC) has disclosed to Congress that it will be submitting the result of its performance review on system operator National Grid Corporation of the Philippines (NGCP) by December.

“We have until the end of the year to submit our findings to the President,” ERC Chairperson Monalisa C. Dimalanta said during a budget hearing; while indicating that a copy of the report shall also be furnished to Congress.

She added that the performance review outcome shall come hand in hand with the approval of the rate reset of the transmission firm – an exercise which President Marcos had mandated to be fast-tracked at the height of the power outages in Panay Island in the first week of January this year.

Back then, the President had ordered the ERC to speed up the process of evaluation and approval in the tariff adjustment for NGCP as that is greatly seen helping lower the cost of electricity being billed to all Filipino ratepayers.

“We have started our review of NGCP’s rate reset in 2022 and we are in the final stages of completing the reset and we are also undertaking based on the directive of the President a performance assessment on NGCP,” Dimalanta noted.

The regulatory body previously indicated that the possible track of the tariff reset for NGCP will be downtrend, therefore, the impact on consumers will be reduction in their electric bills.

There had been roughly 10-year lag in the adjustment of NGCP rates, thus, that review process undertaken by the regulatory body had been a diversion from the conventional forward-looking approach of performance-based rate regulation.

In the partial ruling rendered by the ERC on NGCP’s regulatory reset within 2016-2020 timeframe, there had been enforced disallowances, especially for its delayed transmission projects -- and a follow through to that will be a review for its rate adjustment for 2021 to 2022.

Dimalanta expounded that in NGCP’s performance assessment, the overall reliability of the country’s power system will be comprehensively evaluated – and that shall likewise cover its projects that incurred delays.

“There are performance indicators that NGCP has to meet on a regular basis and that forms part of the assessment of NGCP… and we’re also checking those delayed projects of NGCP and making sure that they complete their projects,” the ERC chief stressed.

In the President’s recent State of the Nation Address (SONA), the achievements of the energy sector cited had been mostly linked to the major projects that NGCP had completed – including the Visayas-Mindanao Interconnection; Cebu-Negros-Panay linkup and the Cebu-Bohol transmission project. 

 

 

Related Tags

budget hearing Energy Regulatory Commission (ERC) National Grid Corp. of the Philippines (NGCP) rate reset performance assessment
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