Define consumer protection.
Let’s better understand its meaning in the latest turn of events at the Energy Regulatory Commission (ERC).
Last September 29, the ERC denied a petition by the Meralco and two energy companies of the San Miguel Corporation for temporary relief measures, citing the skyrocketing cost of coal and fuel.
The subject of this petition is power supply agreement (PSA) between Meralco and the SMC groups entered in 2019. The PSA, according to the ERC, “have the nature of a financial contract with a fixed price.”
In this case, the supplier assumes all the risks relative to market conditions and economic realities. The consumers are protected here from predatory pricing under normal times.
ERC, deciding on the matter, given the extraordinary times, was guided by an internal simulation of options study done by the agency’s Regulatory Operations Service (ROS).
Scenario 2 of the study says, should SMC terminate its PSA, Meralco will be buying energy from the open market at prices that will surely kill the consumers.
The fact is, even at generation cost that SMC says is leading its power company to bankruptcy, the Philippines already has the highest cost of electricity in the region.
This high cost of power is the first reason investments do not land in our shores, aside from a strong perception that government is very corrupt that causes cost of living to rise including cost of electricity.
SMC headman, Ramon S. Ang, says SMC will not opt to terminate its PSA with Meralco that can lead to brownouts and economic slow down that will surely bring up poverty rate in the country.
They will continue to struggle in these hard times of their power generation front and will use every legal means to seek fair play and justice.
Late last week, President Marcos Jr., ended his first one 100th day and his performance got measured using the people’s glee.
Pulse Asia, also notoriously called as False Asia, said Pres. Marcos Jr. got majority approval on his achievements in his first 100 days.
Too bad, in the comments to the Inquirer story on this Pulse Asia survey, nine of ten comments were angry and in complete disbelief to the survey results.
The economy continues to be bruised from both foreign and local forces, leading to price increases never seen before in this decade.
Pulse Asia is easily losing its credibility that as of today, my kapitbahay has nothing but expletives on this pretenders.
“That survey group is rubbing salt into the wound. We are now suffering deeply from uncontrolled rise in prices of food and happy pa rin ang tao? Pulse Asia should be buried in their lies.” My kapitbay would say.
Another big lie is the report from the government that inflation is 6.9 percent, increasing by several points from its previous grade.
“6.9% inflation rate, my foot. Even when this government lies, it lacks creativity to bring it closer to reality. These government officials are completely detached from reality,” same kapitbahay noted.
They should go to the market and it's not difficult to know how much prices have gone up beyond the reach of the ordinary Pinoy.
The United States reported its inflation has gone up to 11% and unemployment also dramatically increased.
The advanced countries have advanced the art of lying to make the lie closer to the reality in the ground.
In the Philippines, our officials disrespect our intelligence, their lies go wild.