The Energy Regulatory Commission has authorized National Power Corp. (NPC) to recover the shortfall on the universal charge – missionary electrification (UC-ME) subsidy for 2012 amounting to P2.606 billion with an equivalent rate of P0.0239 per KWh.
In a resolution dated August 4,ERC directed the Power Sector Assets and Liabilities Management Corporation (PSALM) to disburse the approved UC-ME recovery to NPC in accordance with the true-up adjustment mechanism.
The regulator further directed PSALM to monitor and report the progress in the collection and disbursement of the true-up and basic UC-ME.
It likewise directed all distribution utilities (DUs) and the National Grid Corporation of the Philippines (NGCP )to collect from the consumers the UC-ME true-up rate of P0.0239/kWh, on top of the existing UC-ME basic rate of P0.1561/kWh, for 12 months or until such time that the full amount shall have been collected, whichever comes earlier.
ERC asked DUs and NGCP to remit the collection to PSALM on or before the 15th day of the succeeding month.
The notice of resolution was issued “due to apparent lack of material time in promulgating the official Decision in the above-subject petition, which will be issued shortly.”