Defining the News
A consumer group warned the $3 billion deal between the country’s three biggest power firms to level up the use of natural gas by power plants could be a threat to consumers as this could result in higher electricity rates by monopolizing the liquefied natural gas industry.
“What transpired was these oligarch companies consolidated to maintain their monopoly in the power industry,” Javellana said. He said consumers would face higher electricity rates as a result of increased use of imported LNG, which the Batangas facility was designed for, as this fuel was more expensive.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Consumer group: $3.3 billion LNG enterprise to bring higher power ratesConsumer group United Filipino Consumers and Commuters (UFCC) over the weekend said government inaction on the $3.3-billion liquefied natural gas (LNG) facility in Batangas would lead to higher electricity rates.
Read more »
Biden and Trump spar on immigration, age in battleground GeorgiaDefining the News
Read more »
China tightens grip over internet during key political meetingDefining the News
Read more »
Europeans gear up to vote, with one eye on 'Trump scenario'Defining the News
Read more »
Death toll from Indonesia floods, landslides rises to 21Defining the News
Read more »
AI vs. AI: RCBC leverages data science, AI expertise to combat rising fraud threatsDefining the News
Read more »