Published
By Myrna M. Velasco
Universal charges (UC)
collection, which is slapped on consumers’ electricity bills, of state-run
Power Sector Assets and Liabilities Management Corporation (PSALM) has reached
a whopping P134.846 billion as of end-December last year.
Based on PSALM’s data,
bulk of the charges collected from Filipino electricity ratepayers had been on
universal charge for missionary electrification (UCME) at P73.837 billion,
followed by UC for stranded contract costs (UC-SCC) at P60.776 billion.
The UCME takes the form
of subsidy charges being paid by all Filipino consumers for electricity
services rendered in off-grid areas; while UC for stranded contract costs represent
component of power prices unrecoverable from the market.
Perceptibly, the
universal charge for stranded contract costs have been swelling over the years
because of the “flawed” privatization scheme that PSALM had done for the power
supply contracts of independent power producers (IPPs) – almost giving them out
on “tubong lugaw” (small capital for huge return) type of divestment to private
sector takers. In the end, it’s still the Filipino consumers who have been
suffering on shouldering the cost gaps.
For UC on environmental
charge, total amount billed as of December 2017 hovered at P2.022 billion;
while for UC-stranded debts that had just been enforced last year, collections
summed up to P526 million.
For UCs slapped on
renewable energy developer cash incentive reached a level of P450 million as of
end last year.
Of the total
collections, PSALM noted that it already disbursed P134.134 billion, leaving
just a very meager balance then of P722 million in the UC fund.
The major
disbursements, according to the state-run firm included P67.883 billion of UCME
and P1.491- billion environmental charge fund to National Power Corporation.
This had been in accordance with the rules set forth by the Energy Regulatory
Commission (ERC) and in keeping with the provisions of the Electric Power
Industry Reform Act.
On UC for stranded
contract costs, PSALM reported that P53.033 billion had been “transferred from
the UC-SCC special trust fund account to PSALM’s UC-SCC special fund account,”
which is in keeping also with the approved guidelines of disbursement and
utilization laid down by its board.
Additionally, the
state-owned company logged payments on fuel cost recovery for electric
cooperatives, primarily that of the Oriental Mindoro Electric Cooperative.
For incentives to RE
projects in off-grid or missionary areas, PSALM booked payments amounting to
P203 million within the specified UC disbursements review period.
Project-beneficiaries
include those of the 900-kilowatt Cantingas mini-hydropower plant in Romblon;
the 1.5-megawatt Hitoma and 2.1MW Solong hydroelectric power facilities of
Sunwest Water and Electric Company (SUWECO) in Catanduanes; as well as the
2.1MW Linao Cawayan mini-hydro project in Oriental Mindoro.
The universal charges
are separate line items being passed on in the monthly electric bills of
Filipino consumers. These charges are subject to ERC approval before they can
be reflected in the bills.
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