ERC: No additional power rate hike

Posted at 02/20/13 2:22 PM

MANILA, Philippines - The Energy Regulatory Commission on Wednesday said no extra charges will be imposed on consumers' March 2013 electricity bills after announcing an additional 19 centavos per kilowatthour (kwh) the previous day.

In a statement, ERC said it has set the universal charge for the recovery of National Power Corp.'s stranded debts at zero.

ERC rejected Power Sector Assets and Liabilities Management Corp.'s petition for a P0.03/kwh increase in charges to raise P65 billion for stranded debts. The regulator found no need to do so if certain expenses will be excluded in the calculation of stranded debts.

As a result, only the P0.19/kwh universal charge for the recovery of Napocor's stranded contract costs will be imposed on consumers starting March this year. This translates to an additional P38.76 for households with a monthly electricity consumption of 200 kwh.