The trending tirade vs MVP and Ayala, two of biggest tycoons, billionaire in the country, highlights the monopoly and control of the tycoons on the economy. Both virtually have control over the telco regulator, and may be even the energy regulator.
We may not be privy to the goings on between and among regulatory bodies and Meralco and others involved in power sector. But reports have it that the main reason why the Lopezes sold Meralco was its difficulty in getting rate increases under GMA. (GMA Govt planning to take over Meralco?
Govt sat on the request of Meralco for rate increase for 8 long yerars
The Lopezes sold out to the MVP group who eventually had 53% control of the company. And lo and behold under MVP Meralco became very profitable because it got a provisional increase under the new administration. Meralco was soon presided by a veteran former CEO of energy company and engaged in a lot of innovation (founding a collection company, internet via power lines) prepaid electricity and many many more like outsourcing of linemans activity through its retired employees..
