MANILA, Philippines - Electricity rates are set to go up by almost 10 centavos per kilowatt-hour (kwh) in October.
The increase is the result of the Energy Regulatory Commission’s decision to allow the National Power Corp. to collect an additional 9.78 centavos per kwh from customers under the so-called universal charge on missionary electrification or UCME.
“All distribution utilities are directed to collect the universal charge on missionary electrification charge in the amount of 9.78 centavos per kwh from consumers starting the next billing period from receipt of this order,” ERC said.
ERC, in its decision, also allows the Power Sector Assets and Liabilities Management Corp. (PSALM) to release P5.6 billion to Napocor-Small Power Utilities Group (SPUG) to fund its operation for the year 2009.
Napocor will then remit to PSALM the collected 9.78 centavos collection from customers on or before the 15th of the succeeding month.
In February 2006, the ERC issued an order authorizing PSALM to release P1.34 billion annually to Napocor-SPUG to funds its operations for 2005-2008. Similarly, on Feb. 16, 2009, the commission ordered PSALM to release P541 million to Napocor-SPUG.