VECO seeks ERC approval for 2019-2022 capex worth P4.27B
Aboitiz-led power distribution utility, Visayan Electric Co. Inc. (VECO) seeks the approval of the Energy Regulatory Commission (ERC) for its capital expenditure (capex) program for calendar years 2019 to 2022.
VECO said its actual cost for the four years reached P4.27 billion spent on network projects and non-network projects.
If approved, the amount will be equivalent to an upward rate impact to its customers of P0.1661 per kilowatt hour (kWh).
VECO said the applied capex program will not have a direct effect on current rates of its customers until approved by the ERC.
ERC has scheduled the determination of compliance with jurisdictional requirements and expository presentation of the application on August 22.
ERC set on August 29, 2024 the pre-trial conference and presentation of evidence for VECO’s capex application.
VECO is the second largest electric utility in the Philippines which serves the cities of Cebu, Mandaue, Talisay, Naga and the municipalities of Liloan, Consolacion, Minglanilla and San Fernando.
As of 2020, its franchise covers an area of about 674 square kilometers with an estimated population of 2.6 million.
