A consumer rights advocate has raised alarm over what he considers lack of transparency in the acquisition of 67 percent stake in three major power companies.
The acquisitions involve energy giants Meralco Power Gen Corp. and Therma Natgas Power Inc. .In a letter to the Philippine Competition Commission -Mergers and Acquisitions Office , Romeo Junia voiced concern that these high-stakes deals—impacting South Premier Power Corp., Excellent Energy, Inc., and Ilijan Primeline Industrial Estate—may have been pushed forward without adequate public participation or scrutiny.Junia also flagged a related proposal involving Linseed Field Corp.
'As a consumer rights advocate, I am particularly concerned that the acquisitions may be considered approved without participation of the public,' said Junia, who had been involved as an intervenor in cases filed at the Energy Regulatory Commission related to power rates.He urged the PCC to release non-confidential records of the proceedings, as required under its merger rules, to ensure public accountability.
In Acquisition Of 67% Stake In Power Firms Sought
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