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Friday, March 29, 2024

NGCP allowed to post P51.471b in revenues

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The Energy Regulatory Commission (ERC) granted National Grid Corp. of the Philippines (NGCP) an interim maximum annual revenue (iMAR) of P51.471 billion from 2020 onwards.

The newly-approved iMAR, which reflects a utility firm’s profitability, is higher than P47.052 billion approved in April 2020 but whose implementation was suspended due to the pandemic.

“With the increase in its MAR, NGCP will be able to address its capex requirements in terms of load growth, generation capacity additions, and compliance to rules and regulations, resulting to a better performance in terms of system reliability, security, and integrity of the grid,” the ERC decision said.

However, the new iMAR is lower than the proposed iMAR of P58.846 billion sought by transmission operator NGCP.

The ERC said in its March 23 order the approval provides fair and reasonable interim transmission rates that will serve the public interest.

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It also signals the efficient utilization of transmission facilities that will ultimately redound to the best interest and benefit of the public, it said.

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