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Sunday, January 5, 2014

ERC Makes Verdict in Alleged Power Collusion

 Lawmakers are counting on the Energy Regulatory Commission (ERC) to uphold the interest of 5.3 million consumers when its investigating until hands down tomorrow, Jan. 6, 2014 the results of its probe into the alleged collusion among power generators which supposedly triggered the move to boost power rates by Php 4.15/Kw Hr. Deputy Majority Leader and Citizens Battle Against Corruption (CIBAC) party-list Rep. Tugna and AKO Bicol Rep. Batocabe expressed hope that the probe results would safeguard the well-being and welfare of the consumers. Batocabe warned the ERC against yielding to the interest of the so-called "power oligarchs" saying that such act would likely earn the ire of the consuming public. House Speaker Belmonte Jr. has cast doubts on the "objectivity and ability" of the ERC to run after those allegedly involved in the collusion nothing that it was the lead agency that gave the go signal to Manila Electric Company (Meralco) to implement its rate increase which was later deferred by the Temporary Restraining Order (TRO) issued by the Supreme Court last Dec. 23, 2014. The investigating unit composed of representatives from the ERC the Dept. of Energy and electricity spot market operator Philippine Electricity Market Corp. is expected to present the results of their tripartite probe on Jan. 6, 2014. 
 
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