The Energy Regulatory Commission granted provisional approval to the P5.5-billion capital expenditure program of National Grid Corporation of the Philippines for 2017.
National Grid’s application covered 2017 to 2020 with a proposed total cost of some P113.4 billion, but the ERC only provisionally approved the spending for this year amounting to P5.5 billion.
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“The Commission needs to study further the propriety of the capes projects and their corresponding costs for the years 2018 up to 2020. There is no urgency to grant approval of those projects which can be done upon completion of the public hearings,” ERC Chairman and chief executive Jose Vicente Salazar said in a statement.
