ERC to hold consultations on Meralco rate reset
By Lenie Lectura – November 20, 2024
from Business Mirror
The Energy Regulatory Commission (ERC) will hold public consultations this week to discuss the modifications to the regulatory rate reset of the Manila Electric Co. (Meralco).
The agency is calling on energy stakeholders to participate in the public consultation on the draft rules amending Resolution No. 10, Series of 2021 or the Modified Rules for Setting Distribution Wheeling Rates (RDWR) as part of the rule-making process of the commission.
The virtual public consultations this Friday will discuss the proposed amendment covering the adjustments to the regulatory years for Meralco’s 5th Regulatory Period (5RP) and all other pertinent provisions of the RDWR.
This comes after the ERC promulgated last October 30 an order redefining Meralco’s 5th RP to regulatory years (RYs) 2025 to 2028, replacing the initial coverage of RYs 2022 to 2026. The order was publicly released last Friday.
“After careful review of the arguments submitted by all parties, and taking into account the developments in the four-year regulatory period as filed covering RYs 2022 to 2026, including the RYs that have already lapsed as of date, the Commission considered the most reasonable and achievable procedure within which the new regulatory rate reset will be completed,” the order read.
Under the order, Meralco will have to refile its application for the 5th RP application in accordance with the updated rules. To facilitate this, the ERC initiated motu proprio a rule-making process, which will include the public consultation to ensure due process and transparency before finalizing amendments to the RDWR.
The virtual public consultation will take place on Friday at 9:00 a.m. and 2:00 p.m.
The ERC is also calling on energy stakeholders to provide their written feedback before the public consultation.
“The order says it is subject to public consultation and final deliberation of the commission. So nothing is final yet. We will study the draft rules very carefully and submit our comments thereon as soon as the draft is released,” Meralco Senior Vice President and Head of Regulatory Management Jose Ronald Valles said.
