Economy
Philippines Halts Power Reserve Market Amid Soaring Costs, Orders Revamp
The Philippine Energy Regulatory Commission (ERC) has suspended trading on the reserve market, crucial for stable electricity supply, citing persistently high prices, especially in the Visayas region, and ordered a comprehensive market overhaul.
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- ERC Suspends Power Reserve Market to Address Soaring Electricity Costs
The Philippine Energy Regulatory Commission (ERC) has temporarily suspended the operations of the Power Reserve Market, citing persistently high prices, particularly in the Visayas, to alleviate consumer burdens.