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Meralco ‘deal’ with Noynoy slammed 05/01/2010

Saturday, May 1, 2010

Meralco ‘deal’ with Noynoy slammed


05/01/2010

A party-list lawmaker who is seeking a senatorial post in the forthcoming elections has denounced the alleged deal forged between Liberal Party presidential bet Benigno “Noynoy” Aquino III and the private utility firm Manila Electric Co. (Meralco) to purportedly forgo the overcharging in electricity rates if Aquino is elected as President.

This developed as the Movement for Better Values yesterday picketed the offices of the Meralco and the Energy Regulatory Commission (ERC) to protest recent increases in electricity rates and bared the alleged secret deal between Meralco and the Noynoy Aquino camp.

“(President) Arroyo’s legacy of high electricity rates since the approval of Republic Act 9136 or the Electric Power Industry Reform Act in 2001 and Noynoy’s dream for the presidency bodes ill for consumers and the people,” Nacionalista Party and Makabayan coalition senatorial candidate Rep. Liza Maza said in a press statement.
“The Noynoy deal with Meralco, if this is true, could be a portent of things to come. The ERC is already sitting on the excessive billings of Meralco as proved by the CoA (Commission on Audit) audit. Should the deal push through, we are in for bigger electric shocks,” she added.

According to Maza, figures from the CoA Audit Reports of Meralco reveal overcharges by Meralcio of P8.552 billion and P4.375 billion in test years 2004 and 2007, for a total of P12.98 billion. The years 1987 to 2003, 2005, 2006 and 2008 were not included in the CoA audit, she noted.... MORE

SourceThe Daily Tribune

  URL: http://www.tribuneonline.org/nation/20100501nat4.html


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