Group decries latest power rate hike

Murang Kuryente Partylist (MKP) denounced on Tuesday the Manila Electric Company’s (Meralco) announcement regarding its bill increase for the month of April this year.

The power distributor commemorated National Heroes’ Day by charging Filipinos more and blaming the increase to more expensive energy sources in the Wholesale Electricity Spot Market and depreciating value of the peso against the dollar.

“Today is about celebrating courage, and I want to acknowledge the courage of Meralco in jacking up electricity bills of its consumers while it continues to enjoy record profits and its customers are already scrambling to pay whatever it charges just to keep the lights on in their houses,” said Murang Kuryente Partylist nominee Gerry Arances. “The struggle of every Filipino household just become more heroic,” he added.

The Murang Kuryente Partylist, which recently filed a petition-in-intervention against Meralco and seven other respondents who entered into allegedly anomalous power supply agreements (PSAs) that would lock its consumers to increases in generation charges in the next twenty years, is one of the power company’s fiercest critics.

In addition, the partylist on Monday held simultaneous demonstrations in multiple Meralco centers throughout Luzon to protest, among others, the distributor’s decision to increase generation charges during the hottest months of the year.

“While we are not surprised by Meralco’s looming price increase – we have been warning against this time and again – we believe that it is not too late to do something about it,” said Arances.

“With proper legislation and representation in the Congress, the people’s wish for lower electriciy rates is not an impossible dream,” Arances added. Meralco reported a core net income of ₱5.72 billion in the fourth quarter of 2018, which will only increase with this fresh rate hike. (PR)