The Energy Regulatory Commission (ERC) told Senator Sherwin Gatchalian that they are ready to implement the reduction of transmission charges come the second quarter of 2024.

Earlier, Sen. Sherwin Gatchalian, said that the Department of Energy's budget sponsor, is at P888 million for 2024.

"So again it's a welcome news to all us and our consumers can expect a reduction of transmission rates or transmission charge on second quarter of 2024," Gatchalian said.

He clarified though that the ERC is waiting for the opinions of other related agencies including the National Grid Corporation of the Philippines.

This is important since they would decide how much would be deducted in the transmission charges.

"The probability of seeing a significant reduction in our transmission charge is quite high, as too how much with the reduction that's still being calculated but it will be significant," he said. 

"Right now we are still in the process of conducting hearings and they have requested NGCP and other stakeholders to file their comments and submit their comments. All of those will be compiled and a final decision will happen by the end of the year," he added

Meanwhile, Senate Deputy Minority Leader Sen. Rita Hontiveros, appealed to the regulatory commission to implement a consumer refund.