Power probe ends; results on 6th
ELECTRICITY consumers have only a few more days to wait to hear the findings of regulators on allegations of collusion in the record P4.15/kWh power rate hike.
The Energy Regulatory Commission (ERC), an “investigation unit” within the independent, quasijudicial body, is set to present on Jan. 6 its findings to commissioners.
The power rate hike has been deferred on orders of the Supreme Court.
The ERC, together with the Department of Energy (DOE) and electricity spot market operator Philippine Electricity Market Corp. (PEMC), was set to finish on Dec. 30 its investigation into what actions by the power generation firms and the distribution utility Manila Electric Co. (Meralco) led to the record hike—and whether or not these actions constituted collusion.
“We will have to wait for the report to be presented to the commission by the investigating unit by Jan. 6,” ERC Commissioner Josefina Patricia Magpale Asirit said when asked about the likely result of the probe.
Asirit said Jan. 6 is the first commission meeting for the year 2014.“We have our regular meetings every Monday,” she added.
The DOE is leaving the probe to the ERC, citing existing laws. “It is the ERC as the legal entity for the probe under the Epira (Electric Power Industry Reform Act of 2001, which privatized the sector). As far as data gathering is concerned, it’s tri- partite. However, the investigation, officially, is with the ERC,” Energy Secretary Carlos Jericho Petilla said in a text message.
Aside from the ERC-DOEPEMC probe, the Senate and the House of Representatives have also conducted hearings on the controversial electricity rate hike.
The looming staggered increase in Meralco customers’ bills, while easing cash flow for electricity consumers, could very well indicate a new norm of higher power prices.
“The staggering helps the cash flow but it does not lessen the pain. I also think that investors will really think twice before coming into the country if we do not improve our planning,” Philippine Chamber of Commerce and Industry vice chair Donald Dee said in a text message.