ERC hit, praised over SMC-Meralco rule | Inquirer Opinion
LETTERS

ERC hit, praised over SMC-Meralco rule

/ 05:01 AM October 07, 2022

We are extremely disappointed with Energy Regulatory commissioners Alexis Lumbatan and Marko Fuentes for what we saw was an amateur dissenting opinion on the commission’s landmark denial of the petition by corporate giants San Miguel Corp. and Meralco to amend their contract and protect their profit amid a season of economic woes for the whole country.

In the time of great economic peril the three women in the commission—chair Monalisa Dimalanta and commissioners Floresinda Digal and Catherine Maceda—stood up tallest and proud as they protected the sanctity of the power supply agreements, and protected consumers from wanton profiteering.

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Shame on the “boys” Lumbatan and Fuentes—both from Davao and both appointees of former president Duterte. Your justification is flimsy—that “change in circumstance” is enough grounds for San Miguel and Meralco to change what was a fairly fought, publicly witnessed, and transparent bidding process.

To these two Davaoeño commissioners, we ask—when fuel costs went to almost zero during the pandemic, did San Miguel and Meralco bother to reduce their power rates and provided much needed rope to consumers? NO!

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To Lumbatan and Fuentes—are you both saying that all power generators can now cite whatever “change in circumstance” they can think of, amend their agreed contracts, and get protection from the Energy Regulatory Commission no less to ensure their profit and fat bonuses?

Seems you are defending these two multibillion-peso corporate giants, asking the public that the Ukraine war and rising cost of global fuel is enough justification for all of us to pitch in our hard-earned money and make sure Ramon Ang and Manny Pangilinan get their hefty returns by year’s end. Looking at the financial statements of these two conglomerates, and we see they’re raking it big time in 2022, while the rest of us 110 million Filipinos are crawling.

We say again, shame on you.

Nic Satur Jr., national coordinator, Kuryente.Org

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TAGS: ERC, Meralco, San Miguel Corporation
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