PARE welcomes the Energy Regulatory Commission (ERC) efforts to accelerate the approval of power supply agreements (PSAs) for electric cooperatives, which would shield consumers from price hikes during the summer months.
Expediting the PSAs will cushion the effects of a sudden spike in power rates when electric cooperatives source their supply from the Wholesale Electricity Spot Market (WESM), which is the stock market for power supply.
During red alerts and when power plants go offline due to unplanned shutdowns, ECs are forced to buy from WESM. During these times, many ECs are buying, and few companies are selling.
Thus, the selling price for power is higher, which puts the consumers at a disadvantage.
Hence, we welcome this move by ERC. However, we believe that fast-tracking PSAs should have been done before the dry season, when yellow and red alerts are common.
This serves as another eye-opener for the Department of Energy, ERC, and the National Grid Corporation of the Philippines to better plan for low power supplies, especially during the dry season.
We also encourage electric cooperatives to protect the consumers by ensuring that all PSAs comply with the competitive selection process to ensure the bid winner is the most credible to provide reliable power at the least cost
We likewise call on the regulators to implement a more efficient system that will hasten the approval of PSAs, ensuring more affordable and reliable power for consumers.
Ross is known as the Pambansang Blogger ng Pilipinas - An Information and Communication Technology (ICT) Professional by profession and a Social Media Evangelist by heart.
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