Dismissing COA report on Meralco won’t affect power rates — ERC

The Energy Regulatory Commission (ERC) decision to dismiss the Commission on Audit (COA) report on the Manila Electric Co. (Meralco) will have no impact on Meralco’s rates, the ERC said Wednesday. “The Commission has studied the COA audit report and has considered it is maintaining the earlier decision of the Commission as regards Meralco's unbundled rates," ERC executive director Francis Saturnino Juan said. “It’s like we rendered a final decision on the unbundling of rate application of Meralco and we have affirmed the earlier unbundled rates of Meralco," Juan added. “In fact, the Supreme Court upheld also the decision of the ERC on the unbundling rates." Meanwhile, the head of a power-services watchdog criticized ERC for dismissing the COA report, saying it is not only an affront to the Supreme Court but also to consumers who want reasonable electricity rates. “The audit of Meralco's books of accounts was ordered by the Court in connection with Meralco's application for a rate increase in 2003, and therefore it should be for the Supreme Court to have the final say on the results of that audit," said Pete Ilagan, president of the National Association of Electricity Consumers for Reforms (NASECORE). The COA findings that ERC dismissed include the supposed Meralco overcharges amounting to P7 billion – an amount NASECORE computed at P15 billion to P31 billion. — PE/VS, GMA News