Philippines, July 30 -- Scatec ASA's joint venture with Aboitiz Power (SNAP) in the Philippines has received formal regulatory approval by the Energy Regulatory Commission (ERC) for the previously awarded rate related to the contingency reserve long-term ancillary services (AS) contracts in the Philippines.The awarded contract rate of 2.25 PHP/kWh (previously 1.5 PHP/kWh) will be effective from July 2025, with a retroactive effect of approximately NOK 231 million proportionate to Scatec. The retroactive revenues will be recognised in the second quarter 2025, and are expected to be received through periodic payments within the next 12 months.As previously communicated, Scatec was awarded the long-term ancillary services contracts in the begi...