Tuesday, December 18, 2007
Napocor to implement power rate reduction (5:37 p.m.)
MANILA - Consumers are set to get another rate reduction in their electric bill in February 2008 with the approval of the rate cut filed by state-run National Power Corporation (Napocor) with the Energy Regulatory Commission (ERC).
The eight- to 10- centavo reduction per kilowatt hour (kWh) will cover the July to December 2006 consumption but will be reflected in the February 2008 billings of their customers, says ERC chairman Rodolfo Albano Jr.
"The next GRAM (Generation Rate Adjustment Mechanism) and ICERA (Incremental Currency Exchange Rate Adjustment) applications will reduce generation rate of Napocor in the coming year," Albano told newsmen in a press briefing.
Albano added that these eight to 10 centavos will be the average for all the grids but the highest will be in Mindanao.
According to Albano, the "peso appreciation over the dollar and the efficient operations of the independent power producers of Napocor (IPPs) contributed to these rate reduction.
The order, Albano said will be Napocor's 9th GRAM and 8th ICERA.
Two more rate reduction orders are set to come out next year, Albano said. (Marie Neri/Sunnex) |
