Happy days here again EDITORIAL 07/09/2010

Happy days here again

EDITORIAL Click to enlarge 07/09/2010 It seems that happy days are indeed back again for the Lopezes. After a bitter and costly conflict with Gloria Arroyo who had launched a determined effort to take control of the Lopez family’s crown jewel, the Manila Electric Co. (Meralco), the Lopezes can’t seem to wait and collect payback from their natural ally, Noynoy Aquino, whom they had backed with the family’s full resources, including the best positive media coverage that they can give, through their radio and television stations. A few days after Noynoy assumed the presidency, Meralco, which is now controlled by businessman Manuel V. Pangilinan through a multibillion-peso sweetheart deal with the Lopezes, announced an electricity rate increase and attributing the increase to the decision of the independent power producers (IPPs) from which it buys electricity to increase its charges. Meralco buys electricity from power plants of the state firm National Power Corp. (Napocor), and naturally, the Lopez-owned IPPs and from the Wholesale Electricity Spot Market (Wesm). Nearly half of the power purchases are from the Lopez IPPs Sta. Rita, San Lorenzo and Quezon Power which are supplied by the natural gas pipeline from the Malampaya project.... MORE Source:  The Daily Tribune URL: http://www.tribuneonline.org/commentary/20100709com1.html

COMMENTARY EDITORIAL Happy days here again FRONTLINE No hope for progress focus Putin’s Caucasus ‘viceroy’: a man with a plan MR. EXPOSE Stop bang bang NO HOLDS BARRED Lying to God DIE HARD III The ‘late’ PeNoy Aquino