The National Power Corp. (Napocor) sought approval for the P18.46 B basic Universal Charge for Missionary Electrification (UCME) for 2020.
In a 12-paged application filed to the Energy Regulatory Commision (ERC), the firm proposed a basic UCME with an equivalent rate of P0.1920 per kilowatt hour (kWh). If the proposal is approved, it will result in a P0.040 per kWh increase from the previous rate.
“The proposed basic UCME rate of P0.1920 per kWh inclusive of RE cash incentives for 2020 is necessary in order to cover the required subsidy requirements and, at the same time, maintain a reliable and stable funding source for its operating costs requirements, including a sufficient subsidy for payment to new power providers.qualified third parties and RE developers,” the firm included in their application according to a BusinessMirror report.
Moreover, the firm has another pending application to collect a basic UCME with an increase rate of P0.1948 per kWh in power consumption before the year ends. The ERC has yet to act on this request.
The UCME will be remitted to the Power Sector Assets and Liabilities Management Corp. (PSALM) for the proper management and allocation of the funds.