NGCP rate reset to cut power bills
All determinations are based on actual expenditures and actual performance by NGCP during the said period
All determinations are based on actual expenditures and actual performance by NGCP during the said period
Filipino consumers, except those in off-grid islands, should expect a slight cut in their power bills by early next year after the Energy Regulatory Commission amended the Rules for Setting Transmission Wheeling Rates.
The amended RTWR sets the rules for the rate reset process for the Fifth Regulatory Period which covers years 2023 to 2027, as well as the succeeding Regulatory Periods.
It also prescribes the process of review for the Fourth Regulatory Period covering the years 2016 to 2022.
It will prompt the National Grid Corporation of the Philippines, the country's lone transmission operator, to reset its transmission rate process, which will likely result in cheaper rates compared to the current rates it uses.
In a press conference on Monday, ERC chairperson Monalisa Dimalanta said the amendment of the RTWR "does not necessarily mean that NGCP is overcharging transmission rates."
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Not until January
In the interest of fairness in the review process for the Fourth Regulatory Period, Dimalanta said all determinations are based on actual expenditures and actual performance by NGCP during the said period.
"We are trying very hard to process and implement this rule amendment within the year so the rate impact will be felt by January 2023. Most likely, it will be in the form of lower transmission rates for the protection of the consumers," Dimalanta told reporters on Monday.
Dimalanta also noted that the amendment of the RTWR will also promote a "better investment environment" as it provides clarity for all stakeholders and consumers by restoring balance in transmission regulation.
