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Manila Bulletin devider Business devider ERC: No more delays in Meralco's regulatory reset process

ERC: No more delays in Meralco's regulatory reset process

Published Dec 29, 2024 10:08 pm

The Energy Regulatory Commission (ERC) has adopted key amendments to its resolution governing the rate-setting process for privately-owned electricity distributors to ensure the timely reset of rates, beginning with Manila Electric Company (Meralco).

In a statement, the  ERC Chairperson and Chief Executive Officer Monalisa C. Dimalanta said that the resolution represents a critical step in resolving regulatory gaps that have impacted rate-setting timelines.

“This reset is essential to align distribution rates with operational realities and regulatory efficiency,” Dimalanta said.

“By addressing these delays, we reaffirm our commitment to protecting consumers and ensuring that our distribution utilities direct their investments towards improved services in the changing energy landscape,” she added.

The amendments were prompted by delays in Meralco’s Fifth Regulatory Period (5th RP), which covers the period from 2023 to 2027.

The ERC noted that several years of the 5th RP have already lapsed due to complex legal challenges and actions by various stakeholders.

To address this, the ERC has recalibrated its rules to ensure future resets are conducted promptly while maintaining fairness and transparency.

The resolution focuses on Meralco’s 5th RP but will serve as a framework for addressing similar delays for other private distribution utilities (DUs) in the Philippines.

The ERC plans to issue additional amendments soon to specify timelines and processes for implementation across the sector.

The rate reset process is crucial for establishing fair and reasonable electricity charges for consumers.

It allows the ERC to evaluate the performance and efficiency of DUs and ensures consumers only pay for justified costs.

Through these amendments, the ERC aims to uphold its regulatory responsibilities, foster accountability, and promote stakeholder trust.

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Manila Electric Co. (Meralco) Energy Regulatory Commission (ERC)
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