Supreme Court stops Meralco's power rate hike
ANC – 25 minutes ago
The Supreme Court has temporarily stopped the Manila Electric Company (Meralco)'s P4.15 power rate hike on Monday.
The high court issued a 60-day temporary restraining order (TRO) after two petitions were filed against the rate increase.
The Energy Regulatory Commission (ERC) has earlier approved Meralco's proposal to implement the rate hike in three tranches. The ERC later backtracked on its approval of the staggered power rate hike for February and March.
The first tranche of P2.41 per kilowatt hour has already been implemented in December. This was supposed to be followed by a P1.21 per kilowatt hour increase in February and P0.53 per kilowatt hour hike in March. Some groups consider this the "highest electricity rate in [Philippine] history."
Meralco was previously prompted to propose an increase in their generation charge after Luzon's largest power supplier, the Malampaya oil and gas project, was closed for maintenance until December 10. The maintenance shutdown has reportedly forced Metro Manila's lone power distributor to buy more expensive diesel for its plants.
The Department of Energy (DOE) and the Senate Energy Committee are currently investigating a "possible collusion" between power companies .
Energy Sec. Jericho Petilla said they are also preparing measures to prevent another possible power price hike in Summer.