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.” [...]
Maniego: Open all power supply bids
Press statement by Atty. Pedro H. Maniego Jr. Senior Policy Advisor, Institute for Climate and Sustainable Cities Former Chairman, National Renewable Energy Board Adviser and Former Chairman, UP Engineering Research and Development Foundation Sen. Sherwin T. Gatchalian’s call on the need for an open and transparent bidding in Meralco’s competitive selection process is totally in line with the policy under the Electric Power Industry Reform Act (EPIRA) of ensuring “transparent and reasonable prices of electricity in a regime of free and fair competition and full public accountability.” In adherence to the prescribed spirit of free and fair competition, both existing and [...]