It was reported today in TV news that a govt agency in charge of filtering application for rate increases
rejected a proposal by a DUI and two power suppliers to increase rate by as much as P1,000 per household per month. The said govt agency rejected the petition because of 1 wrong numbers 2 inabiity of petitioners to furnish financial statements for past figures
Ilijan natural gas and Sual power plant all ready notified Meralco that it can no longer supply Meraco under the old contract
It was rumored for the said govt agency in the past, being not so focused on their mandate
1. Had a chief pocket good 7 number windfall from a DUI for just approving a P0.05 provisional increase. Thats a good windfall for the DIU
2. That a large conglomerate recovered its huge investment from purchase of shares of power company
after it wrangled just a P0.40/kwh increase
We are glad that finally the said agency is on the side of the populace
