Friday, June 13, 2008
GSIS: Reduction on Meralco bills barely affects overcharge (12 p.m.)
MANILA -- The Government Service Insurance System (GSIS) said the reduction in the June electricity bills of customers of the Manila Electric Company (Meralco) will "hardly make a dent" on the 20 to 30 percent it overcharges to its consumers.
"While trying to calm an agitated public, Meralco wanted to shift the blame on its high power rates by saying the decrease is being made possible by the decrease in the price of electricity in the wholesale spot market," said GSIS chief legal counsel Estrella Elamparo.
"Who are they fooling? Meralco sources 55 percent of its power from Lopez independent power producers (IPPs) and not even 10 percent from the spot market," she said.
Earlier, GSIS president and general manager Winston Garcia said Meralco's electricity is at least 20 percent more expensive than those sold by other distributors in the country. (MSN/Sunnex) |
