The Energy Regulatory Commission (ERC) approved a staggered payment plan for the Wholesale Electricity Spot Market (WESM) purchases over the next four months, beginning in June 2024.
The ERC will release an order directing the Independent Electricity Market Operator of the Philippines (IEMOP) and the Distribution Utilities (DUs) to promptly enforce the new payment scheme.
In light of the recent heat waves in the country, along with multiple Red and Yellow Alerts in the Luzon and Visayas Grids, the commission is looking to mitigate the effects of elevated generation rates by keeping an eye on the generating costs across all power companies.
Additionally, the commission will order the IEMOP to refrain from penalizing DUs for the aforementioned arrangement.
Moreover, the DUs have the option to offer alternative payment schemes to consumers on terms that work for both of them. Customers who want to participate in alternative payment options should contact their respective DUs to learn more about them or ask for special terms to pay off their outstanding bills.
