1 day Ago
Energy Regulatory Commission (ERC) / STOCK The Energy Regulatory Commission (ERC) has authorized the country’s grid operator to pursue three projects worth P38.09 billion that are seen vital to boost stability of the Luzon and Visayas grids. In a statement on Tuesday, the commission said it had approved three capital expenditure projects of the National Grid Corp.
of the Philippines (NGCP). The Bolo-Balaoan 500 kV (kilovolt) Transmission Line Project has a project cost pegged at P17.09 billion.
The development was considered crucial given the planned offshore wind as well as committed clean energy projects in the region. READ: Power rate hike on the horizon For this project, the ERC ordered the NGCP to finish the project by November 2026. The next approved project is the P16.
8-billion Northern Luzon 230 kV Loop Project, supporting power generation in the provinces of Cagayan, Kalinga, Apayao and Ilocos Norte. The NGCP has less than four years, or until March 2028 to complete the project. The Visayas region could also expect a beefed-up grid once the P4.
2 billion Nabas-Caticlan-Boracay Transmission Project goes online by May 2025. “The approval of these projects underscores our commitment to ensuring the reliability, security and affordability of our country’s electricity supply,” ERC chair and CEO Monalisa Dimalanta said. “It is thus critical for the NGCP to ensure the efficient and timely completion of the projects so we can further boost the ability of our grid to absorb new power capacities needed to meet the growing demand of our communities, businesses and industries,” she added.
Last week, NGCP spokesperson Cynthia Alabanza said the group had earmarked more than P600 billion to finance more than a hundred transmission projects across the Philippines. Most of the projects covered by the funding are included in the NGCP’s Transmission Development Plan 2024 to 2050, she said. Alabanza said that the spending for building transmission lines was on an upward trend, as more renewable projects are being fired up.
She shared that for the past 15 years, the country’s grid operator had invested P340 billion. INQ Subscribe to our daily newsletter By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy .
.
