Metro Manila (CNN Philippines, November 14) — The Manila Electric Company (Meralco) said contrary to some lawmakers’ claim, it is just one of the several power distributors in the country and its rates reflect the “true cost of electricity.”
Meralco made the statement after three lawmakers proposed to split its franchise into three, saying the company, being the country’s biggest power distributor, controls electricity rates in the country.
READ: Lawmakers: Split Meralco ‘mega-franchise’ into three to attract investors, reduce electric rates
\”Meralco is also only one of several DUs (Distribution Utilities) and ECs (Electric Cooperatives) operating in the country. We have strictly abided by the rules and guidelines of our franchise as operations are heavily regulated by the ERC,\” Meralco said in a statement on Tuesday, referring to the Energy Regulatory Commission.
Citing a study of International Energy Consultants, Meralco said its rates are fair and reasonable. It also explained that the Philippines’ power prices are higher than neighboring countries because their governments are providing subsidies.
Laguna Rep. Ann Matibag, one of the bill’s supporters, earlier said that for 2023, electricity prices have surged instead of being reduced to a cheaper \”competitive level.\”
For November, Meralco announced a ₱0.2347 per kilowatt hour (kWh) increase in rate.
