Solons rap alleged midnight deals by ERC in favor of Meralco

Congressmen on Tuesday assailed the alleged sweetheart deals engineered by officials of the Energy Regulatory Commission (ERC) to favor power distributor Meralco, allowing the latter to lock down consumers in its franchise areas to disadvantageous power rates for up to 25 years.

In a statement issued to media, Bagong Henerasyon Rep. Bernadette Herrera-Dy said the power supply agreements (PSAs) entered into by Meralco with its sister generation companies and affiliates were made possible by ERC’s decision to postpone the competitive selection process (CSP) under which power supply contracts should have gone through competitive biddings.

Read more here.

Read more: http://business.inquirer.net/226136/solons-rap-alleged-midnight-deals-erc-favor-meralco#ixzz4bNBNRIVp
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