Senator Win Gatchalian on Wednesday said consumers can expect lower power rates as they would benefit from the reset of power transmission rates by the Energy Regulatory Commission (ERC).

In a statement, Gatchalian said the ERC has already started to review the rates of the National Grid Corporation of the Philippines (NGCP) pursuant to Resolution no. 8.

The said resolution seeks to amend the rules for setting transmission wheeling rates (RTWR).

“A new RTWR means, among others, that the current weighted average cost of capital (WACC) of the NGCP will be revised after more than 10 years,” he said.

Once transmission rates are reset, the average reduction is Php 0.1141 to Php 0.2376 per kilowatt hour (kwh).

This could help households that are consuming 200 kwh a month save Php 22.82 to Php 47.52.

“ERC’s review of transmission rates is long overdue. I have long been following up on this from the ERC. I’m confident that this would lower transmission rates and ultimately residential bills,” Gatchalian, who sits as vice chairman of the Senate committee on energy, said.

He also said that the reset of transmission rates could assure consumers that they are paying for an accurate amount.

“Kapag nagkaroon ng bagong rates, mawawala ang anumang agam-agam ng mga consumers na may nagsasamantala. Sa halip, magkakaroon sila ng kompiyansa na ang anumang bayarin sa kuryente ay tama at walang labis,” the Senator added.