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Cancel rate hike, says militant group

By: - Reporter / @BLozadaINQ
/ 06:12 PM March 11, 2014

Bayan Muna party-list Rep. Neri Colmenares. INQUIRER.net FILE PHOTO

MANILA, Philippines—Bayan Muna on Tuesday slammed the Energy Regulatory Commission’s decision for the reassessment of the rate hike saying that there should be no rate hike on the first place.

Bayan Muna’s statements came after ERC ordered the Wholesale Electricity Spot Market to look at their prices imposed on the consumers of the Manila Electric Co. (Meralco).

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“As petitioners and the opposition, we are asking for the complete voiding of the rate increase both the P4.15 and P5.33 power rate increase for November and December 2013 and not just a recomputation (sic) on the WESM,” Rep. Neri Colmenares said in a statement.

Colmenares added that there should be zero rate increase because of market and regulatory failure.

“We stand that there is collusion,” Colmenares said.

Colmenares’ colleague Rep. Carlos Isagani Zarate added that ERC “missed the point of truly pinpointing” the involved players responsible of “manipulating” the supply during the shutdown of the Malampaya plant.

“The decision even skirted the issue of highly questionable practice of Meralco and Therma Mobile that also triggered the spike last year,” Zarate added.

Zarate said that generation companies, Meralco, and the Malaya power plant put the blame on each other for the rate hikes.

“In all this the people had no hand and must not pay a peso in rate increase,” Zarate said.

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TAGS: Bayan Muna, Energy Regulatory Commission, ERC, Manila Electric Cooperative, MERALCO, Nation, rate hike, WESM, Wholesale Electricity Spot Market
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