But the relief may not last long because CEBECO I may refile its petition on the final resolution from the ERC on the new format of the rate application for distribution utilities.
On its November 10 decision, ERC said it granted CEBECO I's application for the withdrawal of its petition for rate adjustment since it was meritorious.
On May 10, CEBECO I filed "Notice of Withdrawal" hoping that it would be allowed to withdraw the instant application "without prejudice to its refiling as consequence of the issuance by the Commission Resolution No. 18, Series of 2006, adopting a new Format of Rate Application for Distribution Utilities."
On August 24, the power utility also filed a "Manifestation," attaching a copy of the resolution of its board authorizing the withdrawal of the application for rate adjustment.
To note, CEBECO I has applied for P1.0075 per kilowatt-hour increase in its rates in December last year but the ERC has still to schedule a public hearing on the electric cooperative's petition.
In its petition, CEBECO I cited substantial increase in its operations and maintenance costs from 2000 as reason for its request to increase its rates.
The electric cooperative invoked Section 43 of the Electric Power Industry Reform Act that allows distribution utilities to recover just and reasonable costs through adjustment in its power rates.
CEBECO I also explained that the ERC only approved a total revenue requirement of P269,224,000 instead of P326,773,000 during CEBECO I's unbundling of its rates.
Franchise areas of CEBECO I include the municipalities of Alcantara, Alcoy, Alegria, Argao, Badian, Barili, Boljoon, Carcar, Dalaguete, Dumanjug, Ginatilan, Malabuyoc, Moalboal, Oslob, Ronda, Samboan, Santander and Sibonga. - Wenna A. Berondo