Consumers could face increased electricity costs as the National Grid Corporation of the Philippines (NGCP) warns of potential hikes following the partial lifting of suspension on settling transactions in the reserve power market.
NGCP disclosed in a briefing that the Energy Regulatory Commission’s recent directive may lead to a rise of over 10 centavos per kilowatt-hour.
The ERC previously suspended billing and settlement in the reserve market to mitigate electricity rate spikes, but the recent announcement partially eased trading restrictions to allow generation companies to recover costs.
NGCP estimates a minimum 10 centavo increase in electricity prices per kilowatt-hour, with the exact impact varying among distribution utilities and electric cooperatives.
Source: PhilNews24 | May 17, 2024
