Two senators on Wednesday urged the ERC to give power consumers some reprieve from high-energy costs by pushing the reset of power transmission rates, including the refund from the so-called weighted average cost of capital (WACC) of the NGCP.
TWO senators on Wednesday urged the Energy Regulatory Commission to give power consumers some reprieve from high-energy costs by pushing the reset of power transmission rates, including the refund from the so-called weighted average cost of capital of the National Grid Corporation of the Philippines .
He noted that a new RTWR means, among others, that the current WACC of the NGCP will be revised after more than 10 years. “ERC’s review of transmission rates is long overdue,” Gatchalian said adding, “I have long been following up on this from the ERC. I’m confident that this would lower transmission rates and ultimately residential bills.”
This way, he added, consumers would regain trust that whatever amount is stated in their power bills are correct and not overcharged. Moreover, Senator Risa Hontiveros suggested that the ERC should give Filipinos “not one, but two” gifts this year by following up its decision to start resetting transmission wheeling rates by commencing refunds for “exorbitant” WACC rates that contribute to higher power costs for consumers.
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