The Energy Regulatory Commission (ERC) has passed judgment and approved over 500 power generation contracts on its first week as a fully staffed government agency.
According to the ERC, their quick approval is meant to encourage more investments in the energy sector and help lower power rates in the country.
ERC officer-in-charge chairman Jesse Hermogenes Andres released a total of 414 certificates of compliance (COC) and 101 provisional authority to operate (PAO) on his first week in office as part of the larger goal of boosting power generation capacity and improving the reliability and supply of electricity.
COCs allow entities to operate power generating facilities. A provisional authority enables generation companies to immediately operate such facilities pending full compliance of operating terms.
The ERC said OIC chairman Andres deliberated on the matter at hand with commissioners Alexis Lumbatan, Catherine Maceda, Floresinda Baldo-Digal and Marko Romeo Fuentes.
The ERC said the granting of provisional authority also enhances investor access to the New Clark City, a developing industrial hub at the Clark Special Economic Zone in Pampanga, and to quality and reliable power service at affordable rates.
“There is an urgent need to expedite the evaluation and approval process of ERC so that rollout and expansion projects of private sector proponents can immediately be accomplished. This will expectedly increase capacities and efficiency in energy generation, transmission, distribution and supply sectors,” Andres said.
