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Palace welcomes deferred Meralco hike

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By Joel Guinto
First Posted 16:27:00 10/28/2008

MANILA, Philippines — Malacañang welcomed the decision of the Energy Regulatory Commission (ERC) to defer the implementation of a rate increase by the Manila Electric Co. (Meralco) in November.

“It is a welcome move for consumers because it holds in abeyance the implementation of an increase at this time,” Press Secretary Jesus Dureza told a news conference at the Palace.

Acting on motions for reconsideration of several consumer groups, the regulatory body deferred the increase of an average of 14 centavos per kilowatt-hour, which it had approved last week.

As it approved the Lopez-controlled utility’s petition for a rate adjustment, the ERC also ordered it to P3.9 billion in overcharges.

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Written by joelguinto

TueUTC2008-10-28T09:09:10+00:00UTC10bUTCTue, 28 Oct 2008 09:09:10 +0000 22, 2006 at 12:45 am10

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