Solon seeks probe on energy regulator, Meralco

A lawmaker on Tuesday called for an investigation on allegations the extension of a regulatory deadline for compliance with competition rules benefited the Manila Electric Co.

The Energy Regulatory Commission had set a November 2015 deadline but was later extended to 2016, Bayan Muna party-list Representative Carlos Isagani Zarate said.

Four days before the new deadline, Zarate claimed Meralco struck seven contracts with sister companies for energy supply. He said this would translate to at least P12.4 billion in losses to consumers.

Read more here.

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