The National Grid Corporation of the Philippines (NGCP) has filed an application to reset transmission rates with the Energy Regulatory Commission (ERC), a move seen to bring down power costs.
The ERC said the power transmission network owned by bilyonaryos Roberto Coyiuto and Henry Sy, Jr. formally sought the rate reset procedure on December 22, kicking off the process to bring down transmission charges in power bills.
The regulator previously rejected NGCP’s earlier request to delay the rate reset for 2016 to 2022. The last rate review was held in 2010 and applied to the power services from 2016 to 2020.
ERC said it will start reviewing rate reset data by January 2023.