Existing power rates in the country are expected to be even more competitive as energy stakeholders and consumers can now access latest approved generation rates per region and per technology through the Energy Regulatory Commission’s (ERC) website.
The regulatory body said the move aims to promote transparency in the energy sector and ensures that distribution utilities are aware of the maximum tariff allowed to be collected from consumers in case of emergency power supply agreements (EPSAs).
ERC said based on the Department of Energy’s (DOE) Department Circular No. DC 2018-02-0003, as amended by DOE Department Circular No. DC 2021-09-0030, rates to be charged in EPSAs shall be equivalent to or lower than the latest ERC-approved generation rate for the same or similar technology in comparable areas.
ERC’s database for generation rates also provides the benchmark for the most recent rates deemed by the regulatory body as reasonable and compliant with the least cost mandate.
“With this, DUs across the country will have sufficient information in contracting their PSAs at the least cost. Moreover, the database also informs consumers about the generation rates of the PSAs implemented in their franchise areas as well as the status of the PSA applications pending with the ERC,” the regulatory body added.
ERC said reference rates are also updated from time to time to reflect timely changes. -Jed Macapagal
