SANTA Rosa City Rep. Dan Fernandez has expressed his opposition to the renewal of the legislative franchise of Manila Electric Co. (Meralco).
SANTA Rosa City Rep. Dan Fernandez has expressed his opposition to the renewal of the legislative franchise of Manila Electric Co. .Meralco's franchise will expire in 2028. Fernandez , vice chairman of the Committee on Energy, said the House should study whether to renew Meralco's franchise or divide it into three, noting that it had become too big for a single franchise.
He added that rate setting per kilowatt hour was influenced by weighted average cost of capital .The lawmaker said that WACC is used as basis for rate of return of investment instead of return of rate base which would make power rates more reasonable.'For these reasons, we strongly oppose the early renewal of Meralco's legislative franchise,' Fernandez said.He said Meralco must return to its customers the excess charges it collected through the years.
Bucks Meralco's Franchise Renewal
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