Meralco gets lower capex

The Energy Regulatory Commission has provisionally approved the 2017 capital expenditure program of power retailer Manila Electric Co. amounting to P8.757 billion, significantly lower than the P15 billion it applied for.

The ERC approved nine out of 23 major projects and 37 out of 82 residual projects applied for by Meralco.

“These projects were granted provisional approval as they are necessary in order that applicant can comply with existing regulatory standards. Moreover, these projects are aimed at addressing issues on distribution capacity, safety, protection and reliability,” the regulator said.

Meralco previously applied for a capex program amounting to around P15 billion covering the period July 1, 2016 to June 30, 2017.