By Alena Mae S. Flores

National Power Corp. has filed a new petition with the Energy Regulatory Commission to increase its basic generation rate by P0.8332 per kilowatt-hour in the Luzon grid.

Napocor, in a joint filing with Power Sector Assets and Liabilities Management Corp. late Friday, sought an increase in the basic rate in the Visayas of P1.3815 per kWh and P1.0686 per kWh in Mindanao.

?Applicants considered the allowable fuel cost based on the heat rate caps in 2007, independent power producer costs based on ERC-approved caps, other allowable fixed generation costs, actual energy sales for 2007 and a maximum 12 percent return on rate base,? Napocor said in its 22-page petition.

It proposed new basic generation charges of P4.7298 per kWh in Luzon to cover the sale of the 175-megawatt Ambuklao-Binga hydro plant, P4.2694 in the Visayas and P3.1717 per kWh in Mindanao.

?Applicants seek the approval of the instant application for new generation charges... to reflect the impact of the sale, transfer and disposal of Napocor generation assets and the updated rate base using a trending methodology and a maximum allowable revenue of 12 percent,? Napocor said.

The power firm added in its calculation the costs of two independent power producers, namely Malaya and CBK power plants, which were allowed by the commission to recover its IPP costs in a decision dated Nov. 17, 2008.

?Applicants determined that the privatization of the power plants necessitate an immediate adjustment in the existing Luzon grid average of P3.8966 per kWh in order to reasonably recover the operating expenses of the remaining power plants under its control or ownership and attain a reasonable return on its rate base,? Napocor said.

Napocor earlier sought a P0.37 per kWh increase in its rate and an 8 percent return on rate base, which the ERC rejected.