Business: ERC Gives Nod for KEPCO to Recover P31-M from CENECO
(As Billing Differential from Oct. 2010 to Feb. 2011)
Sometime in October 2010, Central Negros Electric Cooperative, Inc. (CENECO)and KEPCO SPC (KSPC) inked an agreement where the latter will supply CENECO the Commissioning power at the rate of Php 1.5905 per kWhr pending Energy Regulatory Commission’s (ERC) evaluation and final approval.
Recently, in its ruling, the Energy Regulatory Commission (ERC) has approved the said Commissioning Power Sales Contract rate at Php 2.8729/kWhr. As a result, thereof, KSPC is entitled to collect a billing differential of Php 1.2824/kWhr for the period covering October 2010 to February 2011.
With the ERC decision, KEPCO is now authorized to recover from CENECO the billing differential on the CPSC amounting to Php0.66/kWhr, a total of Php31, 161,223.08.
In order to cushion the impact to member-consumers, the CENECO Board passed a resolution requesting KEPCO and ERC to extend the recovery period from one month at 66 centavos/kWhr to one year at 55 centavos/kWhr.
(SGD.) SULPICIO C. LAGARDE, JR.