Napocor seeks ERC nod to hike power rates

The state-owned National Power Corp. (Napocor) has filed separate petitions with the Energy Regulatory Commission (ERC) to raise its rates across the country in a bid to recover some P7.3 billion in foreign exchange losses and deferred fuel costs, among others.

In one petition, Napocor is seeking approval to raise its rates by an average of P1.8788 per kilowatt-hour (kWh) for consumers that are served by its Small Power Utilities Group (SPUG).