Senator Risa Hontiveros is no stranger to the lonely task of being the “last (wo)man standing” in taking up her various advocacies.
Remember when all the other senators were supporting the move by the transport sector to delay the implementation of the Jeepney Modernization Program, even requesting President Bongbong Marcos to do so? Risa was the only member of the Upper Chamber who disagreed.
Hontiveros also pursued to its logical conclusion the fight against illegal POGOs (Philippine Offshore Gaming Operators), particularly the investigation against Alice Guo, the mayor of Bamban, Tarlac, and her links to the POGO operations in her town.
Risa also risked her reputation in the long-running issue about Pastor Apollo Quiboloy of the Kingdom. Really?
A kingdom in Davao at a time of ChatGPT and DeepSeek. Senator Hontiveros dug into alleged sexual misbehavior and other abuses inside the religious congregation.
Risa further pursued her favorite advocacy on gender equality, no matter if the Senate president then was hypocritically against her bill.
Meralco this time
Sen. Risa Hontiveros has trained her sights this time on the Manila Electric Co. (Meralco), a member of the powerful Manny V. Pangilinan Group.
In various manifestations in the Senate, Risa said Meralco should not make it an alibi that the Energy Regulatory Commission (ERC) did not do its job (she means the rates reset), in order to try to evade the payment of some P100 billion that should be returned to its customers.
“I am well aware of the ERC's mandate, and how it has in the past failed to perform that mandate. But Meralco cannot wash its hands and pretend that it has not instituted actions - such as using a higher nominal weighted average cost of capital (WACC) — that has led to overcharging of consumers and excessive financial burden to families.
She pointed out that Meralco has been using a nominal weighted average cost of capital (WACC) which determines their allowed rate of return. The higher WACC, Hontiveros said, means that "consumers are paying so much more than what is needed for Meralco's viability, while Meralco gets bigger and bigger windfall profits."
Hontiveros also said that Meralco has been allegedly overstating its regulatory asset base (RAB) - or the value of its assets including its equipment and infrastructure - to justify imposing higher prices. Likewise, she said that Meralco has been effectively charging consumers twice for inflation since 2012, or for more than a decade already.
Meralco's initiatives, Hontiveros noted, were only made possible by the inaction of the Energy Regulatory Commission, and its failure to perform its mandate of protecting consumers.
"The ERC needs to get off its seat and do more to ensure that electricity is available at the least cost, and that there are no unnecessary charges in our monthly bills," she said.
Hontiveros then said that she would file a proposed Senate resolution urging an investigation by the Senate Committee on Energy on Meralco's overcollections, "so that a full, fair and transparent accounting for the benefit of our consumers may be made."
The senator stressed: “May I remind Meralco of the decision by the new ERC disallowing more than P200-B of NGCP expenses that were passed on to consumers, including public relations, advertising and entertainment, donation to Covid-19 response, and charitable contributions, in addition to a higher WACC.
Overcollect now, refund later
“Huwag tayong masanay sa kalakaran na "overcollect now, refund later" dahil may tumatabo ng tubo sa pagsasakripisyo ng ating mga kababayan. Katulad din ng naiulat na may P28-B meter deposit ng mga konsyumer na pinatutubuan pa umano ng Meralco na parang kanyang sariling kapital.
“I strongly urge the ERC leadership to use its abilities to not only determine the full extent of Meralco's overcollections but also require Meralco to immediately refund every single peso owed to Filipinos. Bilang dapat protektor ng consumer sa power sector, sana maramdaman ng taumbayan ang pagkilos ng ERC.”
Despite Senator Hontiveros’ opposition, the House and the Senate granted Meralco an extension of its franchise for another 25 years, although there are still more than two years remaining under its old franchise. (with a report by Opinyon News Team)
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