The Energy Regulatory Commission (ERC) has approved a lower annual revenue requirement for the National Grid Corporation of the Philippines (NGCP), cutting 15.28 percent from what the company originally sought.
The 797-megawatt Caliraya-Botocan-Kalayaan (CBK) hydroelectric complex in Laguna has been formally turned over to the Thunder Consortium, marking a major step in strengthening the country’s power system as more renewable energy comes online.
A group of Philippine power distribution utilities is pushing for the adoption of global best practices to improve the country’s electricity services, as energy systems become more complex and technology-driven.