ABS CBN (Free subscription) | 05/14/2008
The Manila Electric Co. (Meralco) and other utilities should be required to reserve at least one seat in their governing boards for consumers, Cotabato Rep. Emmylou Taliño-Mendoza said Wednesday.
Business World (Free subscription) | 05/13/2008
MALACAÑANG yesterday pressed Congress to "seriously consider amending the Electric Power Industry Reform Act," or EPIRA, citing the Manila Electric Co.’s (Meralco) "own admission that it had been passing on to hapless consumers its own sys-tems losses."
ABS CBN (Free subscription) | yesterday
... electricity accounted for 86 percent of total revenue.FPHC holds 34 percent of power distributor Manila Electric Co.Revenue from toll operations, derived from the use of the North Luzon Expressway and Subic-Tipo road, inched up by 1 percent to P1.36 billion.
ABS CBN (Free subscription) | 05/14/2008
... projects.The finance chief instead proposed two things: first, for all power utilities, including Manila Electric co. (MERALCO) and National Power Corporation (NAPOCOR), not to pass on System Loss charges to consumers."If there's no System Loss, there will be no VAT on this to pay," said Teves.The second is for all collections from VAT on oil and power to be used for "targeted spending"...
ABS CBN (Free subscription) | 05/12/2008
The stage is set for what a senator described as a "battle of titans" when Government Service Insurance System (GSIS) president Winston Garcia faces off with top officials of the Lopez family-controlled Manila Electric Co. at Monday's Joint Congressional Power Commission (JCPC) hearing on high power rates, amid speculations of a Garcia-led scheme for a government takeover of Meralco.
Commercial Insurance Knowledge (Free subscription) | 05/12/2008
The Manila Electric Co. on Monday cautioned Winston Garcia, president of the Government Service Insurance System, on reported plans to break up the Lopez family-controlled distribution utility into two business … Bookmark To:
ABS CBN (Free subscription) | 05/12/2008
The Manila Electric Co. on Monday cautioned Winston Garcia, president of the Government Service Insurance System, on reported plans to break up the Lopez family-controlled distribution utility into two business groups ahead of a joint congressional hearing on high power rates on Monday. "I think whatever change needs to be [done needs to be] approved by Congress," said Elpi Cuna, Meralco vice-presient...
Out of my mind (Free subscription) | 05/13/2008
This was my column yesterday. The unexpected twists and turns in the ongoing soap opera featuring Manila Electric Co. and the Government Service Insurance System—or between the Lopezes and the Arroyo administration, if we are to believe some overactive and malicious minds out there—underscore the very fragile state of affairs in this country. It does look like most of us are suffering from a...
Positive News Media (Free subscription) | 05/12/2008
MANILA, May 12 (PNA)-- The Manila Electric Co. (Meralco), which is facing a congressional inquiry for alleged excessive pricing, has set aside a total of P1.1 billion in cash dividends to shareholders this year.
ABS CBN (Free subscription) | 05/12/2008
... and fine.Among the resource persons who attended the hearing were Energy Secretary Angelo Reyes, Manila Electric Co. (MERALCO) president and chief operating officer Jesus Francisco, National Power Corp. (NAPOCOR) president Cyril del Callar and Winston Garcia of the state pension fund Government Service Insurance System.Santiago said the panel will also try to find out why electricity rates...
ABS CBN (Free subscription) | 05/11/2008
... bills are high.”For one, the FDC said the Energy Regulatory Commission (ERC) allows the Manila Electric Co. (Meralco), other distribution utilities (DUs) and the National Transmission Corp. (Transco) to earn over and above what used to be the statutory return on rate base of 8 percent to 12 percent.It also noted that the Arroyo government wants to attract private investors to purchase National...
ABS CBN (Free subscription) | 05/09/2008
... First Grade Holdings managing director.Market heavyweight Philippine Long Distance Telephone Co. advanced P5 or 0.2 percent to 2,595.Megaworld Corp. edged up P0.04 or 1.9 percent to P2.10.Ayala Corp., the nation's biggest conglomerate, jumped P2.50 or 0.8 percent to P315.Manila Electric Co. (MERALCO), jumped P3.50 or 5.2 percent to P71 following losses in the previous sessions."MERALCO is...
ABS CBN (Free subscription) | 05/09/2008
By LALA RIMANDOabs-cbnNEWS.com/Newsbreak (First of two parts)In the usually placid boardroom of Manila Electric Co. (Meralco), the country's biggest power distributor controlled by the Lopez family, the entry of brash and aggressive Winston Garcia, a new member of the board, was disconcerting. Boardroom meetings were usually cordial and members were cozy with each other. Enter Garcia, whose...
