Alcordo calls Enrile charges ‘misleading’

Former Napocor president Jesus N. Alcordo said yesterday that former Senator Juan Ponce Enrile’s claim of alleged overcharges by Meralco and its independent power producer Duracom Mobile Power Corp. are "completely misleading" given the data obtained from the two power companies.

Alcordo made the statement in the wake of the former senator’s recent pronouncements linking him in the alleged Meralco overcharging case.

Alcordo said that "given the facts obtained from Duracom and Meralco, and which are regularly submitted to the Energy Regulatory Commission (ERC), it is difficult to understand these alleged overcharges that are supposedly passed on to consumers. There could be misappreciation of the numbers from the side of former Senator Enrile," he added.

The documents gathered stated that Meralco was able to earn savings from its purchase of electricity from Duracom as the purchased power agreement between the two companies’ states that Duracom rates should be equal to the Napocor power cost. Duracom then gave a five-percent discount on Meralco’s purchases as evidenced from the monthly letters submitted by Meralco to Duracom reminding the power company of the agreed five-percent discount on electricity purchases.

In 2000 alone, Meralco generated savings of about P155.69 million for the electricity sourced from Duracom as against Napocor. In 2001, Meralco again earned savings of some P189.51 million. This year, Meralco was able to save more than P173.35 million between January to October.

In the latest billing, Duracom charged P3.48 per kilowatt hour (kWh) compared with Napocor’s effective rate of P3.67 per kWh.

Alcordo pointed out that the alleged overcharges, if there are any, could not have happened during his watch as Napocor president as claimed by Enrile.

He explained that he "has divested himself of any interest" in East Asia Power Resources Corp. (EAPRC), East Asia Diesel Power Corp. (EADPC) and Duracom in accordance with the requirements of the law while he was Napocor president.

He also said that he has not participated in the management of Duracom in any manner since his assumption of office in Napocor. Therefore, he "could not be part of any alleged overcharges," he emphasized.

Alcordo said that the "allegations linking him with Duracom and Meralco of alleged overcharges are completely unfounded and baseless."