Policy reforms sought to lower power costs in PH

Hontiveros said that to maintain these low power costs, the national government should “proactively implement policy changes.”

“One reform that I’ve long been advocating to the Energy Regulatory Commission is the reduction of the excessively high 15 percent weighted average cost of capital ,” Hontiveros said. “Meralco and the National Grid Corporation of the Philippines have been benefiting from this since 2015. If it’s corrected, there will certainly be a decrease in distribution and transmission charges, easing the burden on consumers,” she said.

Hontiveros also pointed to fraudulent contracts, power shortages and delayed transmission projects that directly affect consumers. She said the ERC, along with the Department of Energy, should correct and monitor power supply agreements between generation companies and distribution utilities. The lawmaker also stressed that the proposed imposition of a value-added tax on “already expensive” power rates will further burden families across the archipelago.

Source: News Formal (newsformal.com)

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