MANILA, Philippines - A party-list group on Wednesday asked the Energy Regulatory Commission (ERC) to stop the Manila Electric Co. (Meralco), the country's largest power distributor, from increasing electricity rates this January.
Anakpawis party-list Vice Chairperson Fernando Hicap accused the ERC of tolerating Meralco's monopoly profits.
"It is about time for the energy regulatory agency to act decisively, defy the deregulated regime in the power sector and keep public interest over and above the narrow agenda of electric giants like Meralco," Hicap said.
Hicap also urged the ERC to indefinitely suspend the planned hike in electricity cost this year and subject the proposal for power rate hike to public scrutiny.
He also asked the ERC to suspend if not abolish the wholesale electricity spot market and instead push regulation despite the existence of Energy Power Industry Reform Act.
"Public interest is at stake here, and ERC can range this concern of national importance against profiteering and corporate exploitation in the name of millions of Meralco consumers," Hicap said.
Meralco is set to announce its increase in the generation charge within this week due to reduced performance of coal and natural gas plants, and increased generation of power output from the more expensive oil-fed facilities.