Economy

PSALM’s universal charge collections hit P135 B

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.

Supreme Court TRO application filed against renewable energy law

THE Supreme Court has been asked to issue a temporary restraining order (TRO) against the renewable energy law amid claims some of its provisions are unlawful, specifically those on renewable portfolio standards (RPS) and the feed-in-tariff (FiT) system.

The petitioner, Alyansa ng mga Grupong Haligi ng Agham at Teknolohiya para sa Mamamayan (Agham), said consumers should be concerned about the implementation of the law — Republic Act No. 9513, which promotes the development, utilization and commercialization of renewable energy (RE) resources.

DoE issues power procurement circular

In a move to foster competition and transparency and meet market demand at minimum cost, the Department of Energy (DoE) released a circular introducing the competitive selection process (CSP) for distribution utilities (DUs) wanting to secure power supply.

Under Department Circular DC2018-02-0003, DUs shall comply with the standard procurement procedures and documents in securing electricity for its customers.

DoE: Tighter tax watch saved consumers P2.7B

Consumers would have had to pay over P2.5 billion extra had the government not carefully monitored the implementation of the Tax Reform of Acceleration and Inclusion (Train) law, the Energy department claimed in Friday.

“To emphasize, the Department of Energy has saved the consuming public approximately P2.7 billion in what could have been improperly collected,” Energy Assistant Secretary Leonido Pulido 3rd said in a press briefing.

 

 

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