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Friday, March 29, 2024

ERC reaffirms NGCP’s capex

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The Energy Regulatory Commission reaffirmed its decision granting provisional authority to National Grid Corp. of the Philippines to implement 58 capital expenditure projects costing P5.5 billion.

The ERC, in a decision posted September 4, said while the commission had already deliberated and resolved NGCP’s petition in February, the decision had to undergo reaffirmation.

“However, due to supervening events, the order could no longer be promulgated without undergoing reconfirmation by the Commission en banc,” it said.

The regulator referred to the suspension of ERC chairman Jose Vicente Salazar in May.

The ERC re-approved NGCP’s application, saying the projects “would ensure the quality, reliability, and security of the country’s transmission system.”

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The ERC also directed NGCP to undertake competitive selection  process in the bidding of materials for the projects.

NGCP’s application covered 2017 to 2020 with a proposed total cost of some PP113.4 billion, but the ERC only provisionally approved the capex amounting to P5.5 billion for this year.  

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