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Monday, July 18, 2005
Electric coop denies power hike imminent
By Maricar Aranas
NEGROS Oriental 2 Rural Electric Cooperative (Noreco 2) denied it would increase its basic power rates in August, this year.
Stephen Salgado, Noreco 2 information officer, clarified this in reaction to a published news story about an impending basic rate hike.
Salgado assured the public that there was no impending increase and that the cooperative has not applied for an increase with the Energy Regulatory Commission (ERC).
But, he said, an increase could be forthcoming once the two percent expanded value-added tax (e-VAT) law is implemented.
The Supreme Court recently suspended the implementation of the new law following complaints.
Salgado said the power sector is among those covered by e-VAT and the cooperative would be forced to pass the tax burden to the consumers.
(July 17, 2005 issue)
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