NATIONAL Grid Corp.'s (NGCP) proposed Balaoan-Laoag 500 kilovolt (kV) transmission line project worth P20.65 billion has been approved by the Energy Regulatory Commission (ERC).

This is "subject to optimization based on its actual use and verified expenses incurred during the reset process for the subsequent regulatory period," the ERC said in a decision reached during a regular meeting on Nov. 26.

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