MANILA, Philippines — The National Grid Corp. of the Philippines (NGCP) remains committed to undertake its long-delayed initial public offering (IPO). One of the reasons cited by NGCP for delaying its IPO is the absence of the final determination of price control arrangements for the fourth regulatory period. During the same hearing, ERC legal service director Gregorio Ofalsa said the agency has committed to finish the regulatory reset for NGCP by December 2020. Sen. Sherwin Gatchalian—who chairs the Senate Committee on Energy—has directed the ERC to stick to its commitments on the final determination of NGCP’s fourth regulatory period. Because of the delayed regulatory reset, the lawmaker said NGCP has already overcharged P46.55 billion to consumers.

Source: Philippine Star April 03, 2019 16:09 UTC