Watchdog cautions vs power bill surge
After announcing the planned deal, the energy giants vowed to guarantee the delivery of dependable and competitively-priced energy while helping boost economic growth and environmental preservation
Daily TribuneAfter announcing the planned deal, the energy giants vowed to guarantee the delivery of dependable and competitively-priced energy while helping boost economic growth and environmental preservation
An energy industry coalition has vowed to closely watch the developments involving the $3.3-million power deal among the biggest power players that may affect consumer bills.
The Power for People Coalition over the weekend reiterated that the deal should favorably improve local industry without resulting in unnecessary charges to consumers.
Otherwise, the group could go to the Philippine Competition Commission, or PCC, to appeal for an investigation of the mega deal to ensure compliance with competition laws.
“The group is also studying the possibility of opposing the agreement once it is lodged to the Energy Regulatory Commission, or ERC.
Energy security in mind
San Miguel Global Power Holdings Corp., or SMGP, will obtain capital infusion for its gas-fired power plants: the 1,278 megawatts, or MW, Ilijan plant and a new 1,320 MW combined cycle facility expected to begin operations in late 2024 under the blockbuster deal.
After announcing the planned deal, the energy giants vowed to guarantee the delivery of dependable and competitively-priced energy while helping boost economic growth and environmental preservation.
The initiative, they said, will support the Marcos administration’s objective of increasing the use of natural gas in the country’s energy mix.
It will also help enhance energy security and propel the nation toward a greener and more sustainable future.
No less than ERC chairperson Monalisa Dimalanta confirmed that her office will look into the transaction to address concerns about potential monopoly and to prevent any negative impact on consumer prices that may result from the transaction.
The ERC and PCC have launched a joint task force to monitor and investigate allegations of anti-competitive practices in the power sector.
They undertake joint fact-finding inquiries aimed at uncovering conducts that harm consumer welfare.