ERC assures no rate hike this summer

MANILA, Philippines – The Energy Regulatory Commission (ERC) assured yesterday that there would be no increase in electricity rates despite pending petitions of power distributors across the country.

ERC chairman Rodolfo Albano Sr. told reporters during the weekly Balitaan sa Rembrandt Hotel forum in Quezon City that despite the petitions of Meralco, the Cayagan de Oro and Dagupan City electric companies, there will no electricity hike in the next two months.

In fact, he said the continued strengthening of the peso may result in the decrease of electricity rate in the next months.

“Except for three power distribution firms, there is no other petition for power rate hike,” he said.

There hasn’t been much problem in Mindanao and other areas where power generation depends on hydroelectric plants, as water supply in the region is sufficient, he said.

At the same time, Albano said ERC is closely monitoring the effect of rising oil prices in the world market on the energy sector.

Albano said the price of coal, which fuels some of the plants of the National Power Corp., has remained stable.

The ERC also assured that in case there would be petitions for a new round of power hikes in the next months, they will ensure that a new raise will have minimal impact on the electric bill of consumers.

He also said the increasing value of the peso against the dollar has cushioned the impact of any increase on consumers.