PCCI backs Cebu businessmen on lower power rates

THE Philippine Chamber of Commerce and Industry (PCCI) has expressed support to the Cebu Chamber of Commerce and Industry’s (CCCI) calls for reasonable power rates in Cebu.

CCCI officials recently met with PCCI President Ambassador Benedicto Yujuico, Energy Regulatory Commission (ERC) Legal Service Director Maria Corazon Gines and Department of Energy (DoE)-Electric Power Industry Management Bureau head Mario Marasigan discussed its appeal to make Visayan Electric Co.’s (Veco) power rates in Cebu competitive with other power distributors such as Mactan Electric Co. and Manila Electric Co.

PCCI has sought the intervention of the ERC and DoE in addressing the problem.

As of April, CCCI said Veco’s average residential monthly rates amounted to P11.96 per kilowatthour (kWh) while Meco and Meralco’s average retail rate stood at P9.2686/kWh and P8.4067/ kWh, respectively.

CCCI earlier appealed for a reasonable electricity cost in the province, transparency in the power industry and a regulatory agency to best serve the interest of all the consumers.

“We acknowledge the Visayas Chamber for raising attention to this important competitiveness issue. We have always been at the forefront of advocacy to bring power rates to a competitive level,” Yujuico said.

CCCI remains optimistic that the DoE, ERC and PCCI’s intervention would boost the chamber’s advocacy on ease and low cost of doing business, and that certain actions will be made to ensure all issues raised will be addressed by proper authorities.

George Barcelon, PCCI chairman for utilities and legislative, said the energy issue regarding the Visayas has been long in the waiting and ensured the national chamber’s support to elevate it to the highest level.

CCCI has always been active in advocating and promoting business competitiveness especially amid a globally challenging and disruptive economic environment, representing not only more than 1,000 member-companies and sectors but also the general consumers.

The chamber’s advocacy on power gained traction in December 2019 with a committee study on the power rates of Cebu’s biggest electric distribution company, Veco, that revealed several gray areas that could be major factors to the high cost of electricity.

CCCI even raised these issues to the Aboitiz-led power distributor and ERC soon after the study was done.