EPIRA was supposed to limit profit-making in the public interest. The privatization of power distribution under the Epira law is designed to provide better electricity service to consumers. The stunning Meralco power rate hike of P4.15 per kilowatt hourthe highest single increase in that utilitys historyhas aroused such anger among the consuming public that it is puzzling that it has not brought the wrath of the president down on the power monopoly. Meralco is still conducting its initial investigation into what exactly caused the outage. /+{n?W^]Vmy:jo;frY3[Sgkca71~ We have heard. In its decision dated September 30, 1991, the Supreme Court affirmed the reversion of the 13.9 million shares to FPHC. Surely, government officials are not merely following the recommendations, nay dictates, of the IMF-WB to privatise government services. Prior to its return to its previous owners, Meralco was owned by the government which set up the Meralco Foundation from public funds and since Mrs. Corazon Aquino did not make them pay, logically, Meralco should belong to the Filipino people today. Revisiting the discussion on the need to review and overhaul the Electric Power Industry Reform Act (EPIRA) is timely. Please try again. Principal Competitors: State Power Corporation of China; Huaneng Power International Inc.; SembCorp Industries; Perusahaan Listrik Negara, PT; Hongkong Electric Holdings Ltd.; Korea Electric Power Corporation. Was Meralco involved in the collusion? Because a private companys aim is to profit, privatization also promises a more efficient and improved services for its customers satisfaction. Generating capacity in the key Luzon grid is now highly concentrated among three major groups: San Miguel 30 per cent, Aboitiz, 17 per cent, and Lopez, 15 per cent. The power to grant a franchise is lodged in the legislature subject to limitations imposed by the state constitution. But consumers are disadvantaged. The plant, which opened in 1995, was then the largest medium speed diesel plant in the world, and the lowest priced among all the countrys fast-track independent power producers. In the late 1920s, however, Meralco began construction on a new, large-scale power plant, the Botocan Hydro Station. Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. It would also effectively lessen Meralcos hold on the power industry as a monopoly and reduce incentives for overcharging consumers. All rights reserved. The distribution of electricity in the National Capital Region and 22 other cities and 89 municipalities is controlled by Meralco, which Metro Pacific Investments took over from the Lopez family. Falsehood no. Operations were back to normal as of 8:46 a.m., but authorities continued to investigate the root cause of the power outage, with a full electrical audit on the terminal now being recommended. Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Ensure Meralco is a publicly-held corporation. In this context, Republic Act No. DVM, GMA Integrated News. Who owns Meralco? WebOut of all the large services that were privatized by the Government (MeRalCo, MWSS, NLEX, SLEX and PLDT). Slowly establishing their foothold in the industry are the Ayala and SM group of companies. |m. Oscar Lopez took the helm of a battered company, with over P1.2 B in debt. Add your comment to start the conversation. Part and parcel of the demand for a new normal after the ECQ and in the recovery period from the coronavirus pandemic should be the demand for clean energy.
