Image via WikipediaEven as it prodded the power utility giant to extract more efficiencies in its operations, the Energy Regulatory Commission (ERC) is likely to allow slightly higher capital expenditure (capex) for Manila Electric Company (Meralco) this year to P8.308 billion from what the latter has applied for at P7.955 billion.
The power distribution firm has divided its capex program into various components, namely: Distribution plant; non-network plant; connection plant; retail plant; materials and supplies and sub-transmission.
In the 91-page draft determination on Meralco’s third regulatory reset under performance-based regulation (PBR) though, it can be gleaned that there is probability that its approved capex program will continuously go down from 2012 to 2015.
Next year, the regulator indicated that the utility firm may be allowed a capital outlay of P9.444 billion; but this will be pared to P8.412 billion in 2013.
http://www.mb.com.ph/node/298804/erc-
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