Connect with us

Hi, what are you looking for?

Economy

ERC third-quarter approvals pick up as lockdown eases

THE Energy Regulatory Commission (ERC) said Monday that it issued 113 certificates of compliance (CoCs) to power projects rated at 4,213 megawatts (MW) in the three months to September.

The certificates were issued to generation companies (GenCos), qualified end-users and entities with self-generation facilities and represent a pickup in the pace of approvals from the second quarter, when the agency, hampered by quarantine restrictions, approved only 21 CoCs.

“More than ever, we need to ensure that there will be sufficient power to keep the hospitals running round the clock, and that the students and workers who are studying and working online will get continuous electricity,” ERC Chairperson and CEO Agnes VST Devanadera said in a statement.

In the year to date, the ERC approved 37,817 CoCs, indicating that the third-quarter pickup in approvals remains well behind the pace recorded before the pandemic.

The ERC added in its Third-Quarter Monitoring report that no GenCos breached the market share limitations within each grid as well as the national grid.

“Nonetheless, the ERC also found some GenCos that failed to file or renew their respective CoCs within the prescribed period and were issued a Show Cause Order,” it wrote.

Under the Electric Power Industry Reform Act, a new generation company is only allowed to operate after securing a CoC from the ERC, as well as health, safety and environmental clearances from various government agencies. — Angelica Y. Yang

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

GROSS BORROWINGS by the National Government had reached P2.75 trillion as of end-October as it continued to raise money for its pandemic response, preliminary...

Economy

By Luz Wendy T. Noble, Reporter THE PHILIPPINE Statistics Authority (PSA) said the base year for the consumer price index (CPI) will change to...

Economy

SOME INDIAN COMPANIES, including those from the pharmaceutical industry, are interested in investing in economic zones in the Philippines, according to an India Business...

Economy

By Keren Concepcion G. Valmonte, Reporter HOSPITALITY GROUPS expect a rebound in tourism as coronavirus disease 2019 (COVID-19) vaccination rates continue to improve and...

Economy

BUSINESSWORLD’s Luz Wendy T. Noble was recognized as the Best Reporter of the Year for Banking at the 30th annual awards of the Economic...

Economy

THE Securities and Exchange Commission (SEC) has flagged eight more entities in separate advisories for their unregistered investment solicitation programs. These offerings are PH...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Economy

Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Investing

Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.