Two lawmakers support a proposal to divide the franchise of Manila Electric Company (Meralco) into three, citing the company's monopoly in the Philippine electricity market and high power rates.
TWO lawmakers backed a proposal to split the Manila Electric Company's ( Meralco ) franchise into three. Laguna 1st District Rep. Ma. Rene Ann Lourdes Matibag supported the proposal of Santa Rosa City Rep. Dan Fernandez that the House of Representatives divide the power firm's franchise into three. Matibag said Meralco is a 'monopsony in the Philippine electricity market being the biggest distribution utility having electricity demand that is more than half the demand of the entire country.
' 'From P3 per kilowatt hour in 2000, we now have P12 per kilowatt hour. Why have our power rates increased instead of reduced?' she asked. 'Because Meralco has chosen not to use its market power as a monopsony to reduce power rates. Instead, it has chosen to profit as a supplier of electricity.' 'We can either divide Meralco as what Congressman Fernandez proposed or Meralco must give up entirely its interest in the supply of electricity,' she said. 'Our country has one of the highest electricity rates not only in Asia but in the whole world,' the lawmaker added
Lawmakers Proposal Split Meralco Franchise Monopoly Electricity Market Power Rates
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