Peco starts implementing new power rate
At the end of the month a new rate will reflect on the electric bills of power consumers in the districts of La Paz and Jaro.
This after the Energy Regulatory Commission (ERC) approved the application for rate increase filed by Panay Electric Company (Peco), the city's sole power distributor.
Engr. Randy Pastolero, Assistant to the President of Peco, in a radio interview said the implementation of the new rate in other districts will follow in the succeeding days.
ERC in a decision dated October 24, 2007, a copy of which was obtained by Peco only last November 23, 2007, approved an increase of P0.0990 per kilowatt hour for residential customers and P0.2250 for commercial consumers.
The same ruling also approved the increase in the demand charge of P30.2150 / kilowatt demand.
Peco, in applying for rate increase, reasoned that it will be used for electric distribution capital projects to improve their services.
The decision was signed by ERC chairman Rodolfo Albano Jr., and Commissioners Alejandro Barin, Maria Teresa Castañeda, and Rauf Tan.
"A perusal of the evidence presented therein showed that the completion and acquisition of the aforesaid projects will redound to the benefit of Peco's consumers in terms of continuous, reliable and efficient power supply" mandated by law, the ERC decision said.
The ERC cited Section 2(b) of the Electric Power Industry Reform Act of 2001 (Republic Act 9136) which provides "to ensure the quality, reliability, security and affordability of the supply of electric power and will strengthen its social commitment to its consumers, thereby promoting public interest."
In its decision the ERC noted that not a single official from the city government was present during the hearings "nor was there any intervention/opposition registered." (With a report from PNA)