(MENAFN- EIN Presswire)
PHILIPPINES, November 2 -
Press Release
November 2, 2024
Gatchalian: Resetting power distribution rate could lead to higher amount of refund for Meralco consumers
Senator Win Gatchalian said a resetting by the energy Regulatory Commission (ERC) of the power distribution rate for key distribution utilities (DU), such as the Manila Electric Co. (Meralco), could lead to a higher refund for consumers.
The vice-chair of the Senate Committee on Energy made the statement following an estimate made by Meralco that completion by the ERC of its 5th regulatory reset covering the period of 2022-2026 could result in a refund of P16 billion to consumers. The refund represents the actual weighted average price and the maximum average price, or the highest allowable costs that can be charged to consumers.
"I believe that the refund from Meralco would be significantly higher once the ERC completes resetting the distribution rate under the 5th regulatory period. Inaasahang mas malaki pa kaysa sa P16 bilyon na sinasabi ng Meralco," said Gatchalian.
Gatchalian pointed out that Meralco's weighted average cost of capital (WACC), which is an input in setting distribution rates, has remained unchanged since 2015. The current WACC for Meralco stands at 14.97%.
The ERC has supposedly ruled that Meralco's fifth regulatory period (5RP) covering 2022 to 2026 is already considered lapsed. During a lapsed period, consumers pay charges that are no longer reflective of the current cost of the service while awaiting the approval of a new rate. Gatchalian has earlier flagged the ERC's decision to forego a review of Meralco's distribution rate for the 5RP, saying such a move may be detrimental to consumers.
The senator said he is confident that the WACC for Meralco would be much lower than the current 14.97% if only the resetting process is completed. "I think that the WACC for Meralco would go down if the review is completed, thus, it is for consumers' interest that the ERC resumes its review of the rates for the 5th regulatory period. It shouldn't be maintained at 14.97% because it's the consumers who suffer from high distribution charges," he said.
The lawmaker added that the ERC should address consistent delays in conducting regulatory reviews covering industry players in the energy sector.
Gatchalian: Reset ng power distribution rate maaaring humantong sa mas mataas na Meralco refund
Sinabi ni Senador Win Gatchalian na ang pag-reset ng Energy Regulatory Commission (ERC) ng power distribution rate para sa mga pangunahing distribution utilities (DU), tulad ng Meralco, ay maaaring humantong sa mas mataas na refund para sa mga konsyumer. Karaniwang ginagawa ang rate reset kada limang taon upang suriin ang gastos ng kumpanya at tiyaking makatuwiran ang singil sa mga konsyumer.
Ang pahayag ng vice-chair ng Senate Committee on Energy ay kasunod ng pag-estima ng Meralco na ang pagkumpleto ng ERC ng 5th regulatory reset nito na sumasaklaw sa mga taong 2022 hanggang 2026 ay maaaring magresulta sa refund na P16 bilyon para sa mga konsyumer.
"Naniniwala ako na mas mataas pa ang refund mula sa Meralco kapag natapos na ng ERC ang pag-reset ng distribution sa ilalim ng 5th regulatory period. Inaasahang mas malaki pa kaysa sa P16 bilyon na sinasabi ng Meralco," sabi ni Gatchalian.
Ipinunto ni Gatchalian na ang weighted average cost of capital (WACC) ng Meralco, na isang input sa pagtatakda ng distribution rate, ay hindi na nagbago mula pa noong 2015. Ang kasalukuyang WACC para sa Meralco ay 14.97%. Mahalaga ang WACC dahil ito ang batayan ng regulasyon para sa tamang kita ng kumpanya habang pinapangalagaan ang interes ng mga konsyumer. Ginagamit ito para matukoy kung gaano kababa o kataas ang halaga ng returns na kailangan ng Meralco upang maging matatag at makapaghatid ng serbisyo sa kuryente.
Sinasabing paso na ang desisyon ng ERC sa ikalimang regulatory period (5RP) ng Meralco na sumasaklaw sa taong 2022 hanggang 2026 dahil sa sobrang delayed nito. Sa ganitong sitwasyon, ang binabayarang rate ng mga konsyumer ay hindi na katumbas ng current cost of service o kasalukuyang halaga ng serbisyo habang hinihintay ang pag-apruba ng panibagong rate. Nauna nang tinutulan ni Gatchalian ang desisyon ng ERC na huwag nang ituloy ang pagrepaso sa distribution rate ng Meralco para sa 5th regulatory reset dahil hindi nakakabuti sa mga mamimili ang naturang hakbang.
Sinabi ng senador na kumpiyansa siya na ang WACC para sa Meralco ay mas mababa sa kasalukuyang 14.97% kung matatapos lamang ang proseso ng pag-reset. "Sa tingin ko ay bababa ang WACC para sa Meralco kung makumpleto na ang pagsusuri, kaya para sa interes talaga ng mga mamimili kung ipagpapatuloy ng ERC ang pagrepaso nito sa mga rate para sa 5th regulatory period. Hindi dapat panatilihin sa 14.97% ang WACC ng Meralco dahil ang mga mamimili lang mahihirapan," aniya.
Idinagdag ng mambabatas na dapat tugunan ng ERC ang pagkaantala sa pagsasagawa ng mga regulatory review sa mga industry player sa sektor ng enerhiya.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
MENAFN02112024003118003196ID1108844027
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.