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ERC on track to complete NGCP rate reset
The Energy Regulatory Commission (ERC) is aiming to finish its review for the National Grid Corp. of the Philippines' (NGCP) rate reset for the fifth regulatory period (5RP) next year, which covers 2023-2027.
Completing the 5RP decision next year would mean at least two years of this period would be based on forecasted costs.
The rate reset process for NGCP has experienced significant delays, with the fourth regulatory period (4RP) for 2016-2022 only being finalized this year.
In April, the ERC approved NGCP's 4RP, allowing them to recover P28.3 billion in under-recovered costs from consumers.
The ERC is actively reviewing NGCP's 5RP rate reset filing to ensure the reset is as current as possible.
NGCP, as the country's exclusive grid operator, has a 50-year franchise to manage the transmission system.
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