Home 
The Visayan Electric Co. (Veco) will implement a power rate adjustment within the year, says an Energy Regulatory Commission in Central Visayas (ERC 7) official.
Joel Bontuyan, ERC 7 officer-in-charge, said yesterday that the ERC would soon decide on the Performance-based Rate (PRB) applications submitted by power distributors including Veco as part of the ERC's requirement.
Bontuyan explained that PBR is an alternative rate-making methodology which is internationally accepted and being adopted by the ERC for setting distribution-related charges of utilities.
?Rates can go down or up and customers may receive direct monetary compensation depending on Veco's performance as utility company,? said Ethel Natera, Veco spokesperson.
She said that Veco passed its application under Group C, which is the third group of utilities to file its PBR.
She said that Performance Standards were set in the PBR application and the performance of utilities against the indices was measured annually.
Natera said the PBR system was based on the assurance of quality of service that the utility firm gave its customers.
Bontuyan said that Veco's PBR application had already been heard once.
He refused to give more details saying he would wait for the ERC's final decision.
He however assured the public that the increase would not be high.
Natera said that Meralco, Cagayan and Dagupan filed its PBR in 2006 while Cotabato Light & Power Co., Iligan, Mactan Electric Co. (Meco) had theirs in 2007.
She said that Veco Davao Light & Power Co., Inc., Cabanatuan, La Union, Tarlac, Ibaan filed in 2008.
Meanwhile, members of the Freedom from Debt Coalition (FDC) held a protest against the Electric Power Industry Reform Act (Epira) law in front of the ERC 7 office.
The group said yesterday that the power crisis was brought about by the failure of the Epira law.
They said that the law was ineffectual in breaking the wild swings of power shortage and had made electricity increasingly expensive and less accessible to the people.
