Solon reveals four more power rate increases coming By Gerry Baldo 08/14/2011

Solon reveals four more power rate increases coming

By Gerry Baldo 08/14/2011

The Filipino electric consumers will again suffer from four more power rate increases soon given the petitions filed by the National Power Corp, (Napocor) and the Power Sector Assets and Liabilities Management Corp. (Psalm) before the Energy Regulatory Commission (ERC).

According to Eastern Samar Rep. Ben Evardone, the first is a petition for universal charge of missionary electrification subsidy filed by Napocor amounting to P0.2759 per kilowatt hour; the second is a P0.3666 per kilowatt hour increase filed by Psalm for the payment of stranded cost of Napocor for Luzon consumers only; the third is for the stranded contract costs of Napocor amounting to P0.0313, and the fourth is for the new basic generation rates for Luzon, Visayas and Mindanao amounting to P0.8332 for Luzon; P1.3815 for Visayas, and P1.0686 for Mindanao.

Evardone said these four petitions are on top of the 15 other petitions pending with the ERC filed by electric cooperatives and Meralco.

“If approved, all these increases will be added to the existing electricity rates,” Evardone said..... MORE

Source:  The Daily Tribune

URL: http://www.tribuneonline.org/metro/20110814met1.html