During a hearing called by the committee on energy, Fernandez berated key ERC officials over their failure to conduct computations of the WACC that should form the legal basis for setting the allowable profit of power distribution companies. READ:
a P105-billion refund in their power consumption in the past six years, while those outside the Manila Electric Co. jurisdiction may likely share over another P100 billion more, this time from their power distributors.
During a hearing called by the committee on energy, Fernandez berated key ERC officials over their failure to conduct computations of the WACC that should form the legal basis for setting the allowable profit of power distribution companies. He said the current economic situation prevailing in the country, applicable WACC from 2016 to 2022 should have been steadily placed at a low 6 percent to a high of just 8 percent.
“I beg to disagree. You had seven years to do your job, what you are telling us is just unacceptable,” Fernandez said.
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