|
|
Sunday, August 12, 2007
Manila: Power firm seeks rate hike (6:00 p.m.)
THE Manila Electric Company (Meralco) has lodged petitions for rate increase before the Energy Regulatory Commission (ERC) to facilitate the recovery of about P14 billion generation and system loss charges it incur since September last year.
Meralco president Jesus Francisco explained that "the recovery period will be spread and it could be stretched to nine months, 12 months or 18 months depending on the assessment of the ERC."
Of the P14 billion, dela Peña said P13 billion accounts for the deferred generation charge adjustment and the remaining P1 billion will be for the under-recoveries on system loss charges.
Generation charges are pass-through cost, which Meralco collects and remits to its power suppliers like National Power Corporation, contracted independent power producers and the Wholesale Electricity Spot Market (WESM).
Ivanna dela Peña, vice president and head of utility economics division of Meralco, said they have already submitted their 10 applications for a series of rate adjustments with the ERC. (MSN/Sunnex) |
|
|
|
