By Alena Mae S. Flores Posted on Oct. 29, 2012 at 12:01am
National Grid Corp. of the Philippines asked the Energy Regulatory Commission to increase its maximum allowable revenue in 2013 to P44.977 billion from P40.35 billion this year.
The ERC-approved ceiling affects the profitability of National Grid, which operates the country’s power transmission network.
It said the proposed ceiling for 2013 would “allow NGCP to timely implement its capital expenditure programs and cover its operation and maintenance expenditures.”
National Grid invests around P10 billion annually to maintain and upgrade the country’s transmission facilities.
National Grid said in a regulatory filing it computed the proposed ceiling based on a re-evaluation of the consumer price index used in the company’s previous filings.
“The proposed MAR 2013 and PIS 2012 were designed and developed in accordance with the provisions of the RTWR [rules for setting transmission wheeling rates] and other pertinent issuances,” it said.
The company also asked the ERC for authority to collect P642.08 million for its performance incentive scheme in 2012. ERC rewards utilities which have high performance standards under the performance incentive scheme.
The company said the timely implementation of the rate translation of the the revenue ceiling would reduce, if not eliminate, the risk of underrecovery which was substantial to NGCP.
National Grid bills its customers based on the provisionally approved maximum allowable revenue of P40.350 billion for 2012, with an indicative average rate of P0.6438 per kilowatt-hour. source
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