DAVAO CITY – Bayan Muna Representative Neri Colmenares said power company Meralco “has raked in P17 billion in profits in 2013 and it should refund customers” and “double it for damages.”
Colmenares said the recent report of the Energy Regulatory Commission (ERC) said Meralco and power plants “withheld supply during the Malampaya shutdown which led to price increases.”
“Some quarters are saying that at least 80% of the 5.3 million customers of Meralco have already paid before the Supreme Court (SC) temporary restraining order (TRO) was issued and the refund could amount to billions,” said Colmenares.
ERC on Tuesday revealed 13 power generating companies were charged for violating anti-competitive behavior regulations.
Colmenares said the power companies should be held accountable for jacking up power rates in the country.
