Meralco and High Power Rates
The Manila Electric Company or Meralco has admitted that consumers are actually paying (beyond what’s allowed by law) for the power firm’s systems losses and its own electric bills amounting to half-a-billion pesos annually. Now we know why the Lopezes despise the Arroyo government so much. Ang magnanakaw ay galit sa…
Meralco and High Power Rates II
The Joint Congressional Power Commission hearing is over. Meralco officials have explained their side to the lawmakers… it’s time for DZMM commentators to defend their bosses to the public.
Meralco and High Power Rates III
In the same hearing, the Joint Congressional Power Commission identified Meralco’s management abuses such as the excessive perks received by Meralco’s top brass. But then again, if you were Meralco spokesman Elpi Cuna who’s main task is to explain and defend theft on radio and TV interviews almost everyday, wouldn’t you demand a high salary?
Briefly Noted
While every other local news website was talking about Meralco’s “sins” against the public, (around 9PM, Tuesday, May 13) ABS-CBN News Online’s top story was taking potshots at the Senate’s “poor track record” in legislation particularly after conducting Senate investigations like yesterday’s hearing on the power sector. ‘Di naman kayo masyadong obvious ‘no? (Here’s a tip: If you want to read negative stories against the Arroyo government these days, ABS-CBN News is the best site to visit.)
Headlines: Calamities
Myanmar hit by a strong cyclone killing 62 thousand
China struck by a powerful earthquake killing 12 thousand
Millions in Manila hit by high power rates; Meralco makes a killing.
Mikey and the Powercom Hearing
Reports say House committee on energy chair and Pampanga Rep. Mikey Arroyo did not talk during the heated hearing on power rates – something that was regarded by many as the congressman’s best contribution to the probe.
Good News, Bad News
Good News: Meralco maglalabas ng print ad upang ipaliwanag ang sinisingil sa publiko
Bad News: Bayad sa print ad, isasama sa electric bill n’yo
Good News: Lopez group bibitawan ang Meralco
Bad News: Ang maniwala, sira ulo!
Good News: Walong opisyal ng Meralco, susuweldo ng 97 million sa taong ito
Bad News: Mas malaki ang ating konsumo, mas malaki ang bonus nilang walo
Good News: Senador Miriam Santiago, pasasabugin ang Meralco
Bad News: She lied… bwahahahahaha!
Nakakahiya ang garapalang panlilinlang ng MERALCO. Nakakahiyang kumita sila ng malaki mula sa bulsa ng naghihirap na mamamayan. Sana maputulan ng koryente ang MERALCO, este.. sa kanila pala yun no? LOL.
Itong ABS-CBN naman ay hindi na panig sa katotohanan, mas lalong hindi panig sa bayan, panig sila sa kanilang amo. Ayun panay ang pagtatanggol sa ginawang kasalanan ng “sister” nila.
Congrats pala kay Miriam. Sen. Santiago lead the investigation well.
Meralco is unworthy of our trust. Consider these:
1. Consumers in Metro Manila have been shouldering the Manila Electric Co.’s costs of doing business—including its own power consumption of 71 million kilowatt hours, or about P500 million a year.
2. Meralco buys a good portion of its power from two sister companies, which charge more than the National Power Corp. does. These high costs are again passed on to consumers, while the Lopez-owned companies pocket the higher profits.
3. Eight top executives of the power distribution company will be paid P97 million this year, while the officers and directors as a group will get P170 million. This seems rather extravagant in a company that has 4,000 supervisors for 3,000 rank-and-file workers.
4. Meralco also wants its customers to shoulder its bad debts worth P14 billion.
To Batang B.
Governments by their very nature are inefficient in running businesses. The only exception is Singapore. Do you have any idea what will happen to Meralco and its stakeholders if the government takes over? Thinkof NPC and the pre-FVR PAL, PNB, National Steel, etc.
Agree ako sayo tikboy. Inefficient mag-run ng business ang government. Given na ang track record ng gobyerno ng Pilipinas. Malayong malayo pa tayo sa galing ng Singapore sa pagtakbo ng state owned enterprise.
Pagkatapos ng iba’t ibang skandalo ng gobyernong ito, gusto nyo ba talaga na gobyerno ang magpatakbo ng Meralco? baka mabalik tayo sa power crisis noon! Baka kurakutin lang nila ang perang kitain nila sa kuryente.
tikboy,
I point out the inefficiency of Meralco but never said that Meralco would be much better in the hands of the government. Why? Because it’s not the business of the government to run businesses, thats why I always support the privatization effort of the government. While the Meralco management has still much to be desired, I object any effort of the government to take-over. It’s bad sign for Philippine investment climate.
Paao kaya makakapanlinlang ang meralco samantalang nandyan naman ang ERC, COA at SEC? Eh bakit pa tayo nagaaksaya ng tax money para ipambayad sa mga ahensyang ito kung napakadali naman palang makapanlinlang ng isang kompanya?
Ako ay may maliit na negosyo at yung binabayad ko sa kuryente ay kaparte ng presyo ng aking produkto…hindi ba’t ganoon din ang ginagawa ng Meralco?
Ako ay may shares of stock din ng Meralco. Salamat kay NOWINston Garcia, bumaba pa ang halaga nito sa ngayon. Itataya ko ang aking proxy para sa mga Lopezes kaysa sa gobiernong walang kredibilidad at wala naman track record sa pagpapalakad ng negosyo.
At sa usaping manlilinlang, SINO BA ANG PINAKAMALAKING MANLILINLANG SA NGAYON?
Batang B,
You made a 180 degree turn in your last post.
I suggest you go over the 4 items you ennumerated in your 2nd post and re-phrase them cuz they don’t give the impression that Meralco is inefficient. So what if Meralco consumes Php500m worth of electricity and passes this to the consumers? Is this per se a form of inefficiency? Ditto with items 2 to 4.
To Batang Buotan:
Just to shed some light on some issues that you raised (just sharing some knowledge on the subject)…. Para naman makita natin kung sino ang may interes talaga sa mga naglalabasang issue…
ON-Consumers in Metro Manila have been shouldering the Manila Electric Co.’s costs of doing business
Professor X had it right, talaga naman ipapasa mo ang cost of doing business sa iyong produkto. kapag may negosyo ka, dapat kumita ka hindi ba? kaya dapat mo ipasok sa iyong product cost and lahat ng iyong gastos related to it.
ON- Meralco buys a good portion of its power from two sister companies, which charge more than the National Power Corp
Is this true? I saw the financials regarding this. For the first quarter of 2008, a “special program” was available from NPC. mas mababa nga ng kaunti. paano kaya the previous months? ano kaya ang capacity nung “special rates” na yun? hmmm…. hindi kaya sinadya yun para sa pagputok ng isyu…? hmmm…
Oo nga pala, those sister company deals were all approved by the ERC. The current finance secretary was even on the board of meralco when this was made.
All I am saying is that let us all look at the matter with the intelligence that God has given us. Let us look at all angles and get our facts straight.
Wag din natin i-single out yung isang kumpanya. Sample lang: magkano tingin niyo ang cost talaga ng isang TEXT message? at sinisingil ka ng piso bawa’t isa! One of the big 2 telecom companies ay kaya magpasweldo ng 23 months!
hay, i’m ranting on and on. sorry. basta let us all take a good look at the issue. malamang may nasa likod nitong lahat na gustong BUMUKOL o BUMANGO. hmmmm…..
To: Prof X & Anon 04:21:12
You both cut to the chase. Yes, now i see what you’re driving at. There is deception in this brouhaha. The issue is not inefficiency nor profit with honor.
The two of you said it all.
Amen