The Energy Regulatory Commission will install a new price cap on traded electricity to protect the public from ‘exorbitant’ and sudden increase in power rates.
ERC Executive Director Francis Saturnino S. Juan said a new Price Threshold Mechanism (PTM) will be issued by January next year. The PTM will be similar to the secondary price cap introduced by ERC early this year at the Wholesale Electricity Spot Market (WESM).
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