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Manila Bulletin devider Business devider Napocor seeks rate hike to avoid power cuts

Napocor seeks rate hike to avoid power cuts

Published Oct 17, 2024 08:07 am

State-run National Power Corporation (Napocor) is aiming to resolve its budget deficit by the first quarter of 2025 to ensure uninterrupted power supply in its remote coverage areas.

During a Senate hearing on Thursday, Oct. 17, Bernadette Rivero, Napocor manager of strategic business planning, expressed concern over the pending rate applications that have been ongoing for up to seven years.

She said these unresolved applications threaten the Napocor’s financial stability.

“Our concern for 2025 is that the situation will still be the same because we have rate applications pending since as far back as 2017, which are costs that we have incurred and are now trying to recover,” she said.

Rivero added that rotational brownouts could begin as early as March of next year without timely approvals.

She cited Napocor President Martin Roxas’ statement regarding securing approval for a budget of P11.5 billion to purchase fuel.

“On a positive note, we’ve heard from the ERC that they are working on an approval to be released soon,” Rivero added.

Last week, Roxas said that besides the loan, the state-run enterprise may opt to increase power rates in the off-grid areas once they get approval from the Energy Regulatory Commission (ERC).

This request was filed last January.

Aside from rate application concerns, Napocor also hoped to address the permitting requirements for existing and new power providers.

“[This is] not just for the certificate of compliance (COC) or the permit to operate for the small power utilities group (SPUG) plants, but also the pending new power providers. This is important because these permits are necessary for us to provide subsidies, specifically the UCMC subsidies that they require for their operations,” she elaborated.

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