National News: PNoy Questions Power Rate Hike in Visayas
By Chichi Conde, InterAksyon.com
President Benigno Aquino III yesterday questioned the power rate hike approved by the Energy Regulatory Commission (ERC) for the Visayas.
PRESIDENT AQUINO while in Cebu yesterday questioned the basis of the power rate hike in the Visayas.*
Aquino said the ERC should review the 60.60-centavo increase per kilowatt hour in the region. "We are not sure if the rate increases are warranted," the President said in an open forum with key stakeholders of the electronics industry at the 17th World Electronics Forum in Mactan, Cebu.
The President said the executive and Congress will make representations with the ERC. Aquino said he is "not happy" with the pace by which the Electric Power Industry Reform Act is fulfilling its vision of spurring competition to bring down power rates.
"We are trying to accelerate the process where the benefits of the EPIRA law can be realized at the soonest possible time," he said, adding,
"I am not happy with the pace."
The ERC also approved increases in generation charges of 69.04 centavos per kilowatt hour in Luzon and 4.42 centavos per kilowatt hour in Mindanao.*