Electricity rates to rise starting March – ERC

By Amy R. Remo

Philippine Daily Inquirer

7:01 pm | Tuesday, February 19th, 2013

MANILA, Philippines — Power consumers should brace for higher electricity rates, starting March as the Energy Regulatory Commission allowed the state-run Power Sector Assets and Liabilities Management Corp. to collect over P53 billion worth of stranded contract costs.

This is equivalent to an increase of 19.38 centavos per kilowatt-hour, which will be collected under the universal charge for stranded contract costs (UC-SCC) component of one’s power bill.

Stranded contract costs are calculated every year as the difference between the contractual payment obligations and the revenue earned from the sale of the contracted energy for eligible, government-managed independent power producers (IPPs).

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Short URL: http://business.inquirer.net/?p=108285

Tags: Business , electricity production and distribution , energy regulatory commission , power rate hikes , Power Sector Assets and Liabilities Management Corp.

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