ERC chief seeks revamp of supply auction rules

The top executive of the Energy Regulatory Commission is pushing for a key amendment to the competitive selection process (CSP) guidelines to speed up the approval of power supply deals.

- By BRIX LELIS

ERC chairman and CEO Francis Saturnino Juan has called for a review of the current method used to approve power supply agreements (PSAs), saying the agency should instead honor the results of the CSPs.

"The issue is our insistence on using the old methodology, the cost-based review of the rates or the stipulated rates in the PSA, even though that's not the outcome of the CSP," Juan told a recent ERC meeting.