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(Eagle News)–President Rodrigo Duterte has signed into law a measure that seeks to bring down electricity rates in the country. Under Republic Act 11371, or the “Murang Kuryente Act,” a portion of the net national government share from the Malampaya natural gas project is allocated for the payment of the “stranded contract costs and stranded debts” of the National Power Corporation. At present, the debts of Napocor have been transferred to and assumed by the […]
Associate professor at the University of the Philippines Diliman, Rowaldo R. Del Mundo said that the Philippines must lower its electricity rates if it wants to compete with countries inside the ASEAN region. Del Mundo said that Philippines must lower the current cost of electricity by at least 30 % (percent) to be competitive in the region. The professor also said that the power rates in the Philippines have registered increases higher than the inflation […]
PASIG City, Philippines – Meralco announced that electricity rates may go up in June due to the high demand brought about by the hot weather as well as the increase in the price of fuel used by power plants. (Eagle News Service Jay Paul Carlos, Jericho Morales, Vince Alvin Villarin)
Malacañang refused to comment on the call to cancel Meralco’s franchise for allegedly passing its obligation to consumers by raising electricity rates. According to Presidential Spokesman Edwin Lacierda, it is the sole prerogative of the Congress to cancel the legislative franchise of Meralco, and is not within the ambit of the executive department.
