Categorie: Commodities
Submitted 6 months ago by
Lovephileo
, WEB CONSULTANT / PASTOR
at LIGHT OF THE WORLD CHRISTIAN CENTER
Power rates are almost as important as food. While government is seeing oil and rice prices go wild, with oil beyond $120 per barrel and rice over $1,000 per metric tons - the government is moving against Manila Electric Co. (Meralco), the country's biggest power distributor and biggest of 140 distribution utilities in the country controls about 64% of the national market, owned by the Lopez family.Malacanang is moving to scrutinize Meralco aiming to bring down the costs of electricity. The government was asking to stop Meralco from passing on to its customers the system losses generated from its operations.Along this move, the Government Service Insurance System (GSIS), one of the major share-holders of Meralco has demanded that the company's book be opened and made public. Pretty good, the people really has to know and understand if they are charged properly in their electric bills and as long as the examination of the books is done during office hours.Last month, Meralco's rates rose by P0.6717 per kilowatt hour which redounds to an 8.95% increase or an additional P149 for consumers using 200 kilowatts of electricity per month.Meralco finds itself under fire from all sides with accusations being levied on everything ...
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Submitted 6 months ago by
Lovephileo
, WEB CONSULTANT / PASTOR
at LIGHT OF THE WORLD CHRISTIAN CENTER
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