The Energy Regulatory Commission (ERC) has committed to expedite its regulatory procedures, including the much-awaited performance audit of the National Grid Corporation of the Philippines (NGCP), to ensure fair electricity pricing for consumers.
During a budget hearing with the Senate, ERC Acting Chairperson Jesse Hermogenes T. Andres assured lawmakers that they would complete the audit review this year as it would allow reasonable power rates to be delivered to constituents.
“We will conduct a comprehensive process audit within the ERC to make sure that we are able to deliver in a timely manner the services that are expected of us,” Andres said.
“This will be done in the very near future because the timeliness of the performance of this mandate is of national importance. As I've said, lives of Filipinos are affected day in and day out so we need to act more expeditiously on the matters before the ERC,” he added.
The ERC chief also promised the Senate to uphold high standards of independence, credibility, and fairness, as he stated "It is our duty to protect the interests of the consumers because this industry is deeply imbued with public interest. At the same time, we are also committed to providing a level playing field for all stakeholders. Investors and stakeholders alike can be assured of a fair and independent application of the law, as well as our support as the country’s sole energy regulator.”
The commission ensured constant engagements with the energy stakeholders and communities as part of its expedited regulatory processes.