ICSC welcomes ERC ruling on SMC-Meralco rate hike petition
QUEZON CITY, 4 October 2022 – The Energy Regulatory Commission (ERC) denied yesterday the joint proposal of Meralco and San Miguel Corporation (SMC) of a PHP0.30 per kilowatt-hour (kWh) increase in power rates. In their official ruling, ERC reminded both parties, especially Meralco as a regulated entity, of their obligation to preserve the 2019 power supply agreement (PSA) they have voluntarily entered under the approved terms to protect consumers in its franchise area. The PSA, according to the Commission, “provides no room for price adjustment and only a guaranteed supply of energy to Meralco consumers at a fixed price.” [...]
Averting the perennial power crisis
by Pete H. Maniego | June 29, 2021| Published by Inquirer.net | READ THE STORY HERE Recent brownouts have worsened the suffering of everyone cooped up because of the pandemic. No fans or aircon, no TV or cable, no social media to relieve the monotony. Even the country’s pandemic response is at risk, as vaccines require stable cold storage. The power crisis isn’t new. We suffered daily brownouts in the early 90s that left the government with no choice but to grant take-or-pay contracts to power producers. The result? Electricity rates skyrocketed and remain as one of [...]