The Daily Tribune
NGCP targets capex approval this month
The Energy Regulatory Commission (ERC) aims to issue rulings this month on pending capital expenditure (capex) projects proposed by the National Grid Corp. of the Philippines (NGCP).
ERC Chairman and CEO Francis Saturnino C. Juan stated that the commission is prioritizing these decisions after a letter from the Department of Energy highlighted the critical nature of the NGCP's capex projects.
The NGCP requires ERC approval for its capex projects as mandated by Republic Act No. 9136, also known as the Electric Power Industry Reform Act.
The ERC has already completed the NGCP's fourth regulatory period rate reset, which spanned from 2015 to 2022, and the fifth regulatory period is from January 2023 to December 2027.
Previously, the NGCP was permitted to collect an additional P28.29 billion in under-recoveries.
The NGCP had announced last year its plans to allocate P600 billion for over 100 capex projects.
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