Officials of power distribution giant Meralco ought to re-read the results of the House probe on the seven burdensome power supply agreements (PSAs) that it sought with its own subsidiaries, Bayan Muna Party-List Rep. Carlos Zarate said Tuesday.
This, as the lawyer-solon chided Meralco for claiming that there was no Philippine law or policy that prevents affiliated generation companies from participating in the bidding for the supply requirements of distribution utilities.
“The Ombudsman also suspended top Energy Regulatory Commission officials for allowing Meralco to award the same PSAs to the Meralco gencos without conducting a bidding under competitive selection process . Yet Meralco claims that such anti-competitive behavior is not prohibited,” he added. Zarate further asked Meralco executives “to think about the obligations set by Congress in renewing the company’s franchise to see if overpricing power rates by P1.55 per kilowatt-hour–as what Meralco tried under the aborted PSAs–conformed with the company’s franchise obligation to get in “the least cost manner” electricity it distributes to its customers.
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