ERC to prioritize probe vs Meralco, power producers for ‘market abuse’ in 2013 rate hike

The Energy Regulatory Commission (ERC) said it will prioritize a probe into 11 generation companies (gencos) that were found to have engaged in anti-competitive behavior, leading to record-high increases in power rates in December 2013. The ERC’s Investigating Unit (IU) released a report identifying the firms in June 2015, prior to Salazar’s appointment in August. The 11 gencos identified are the Power Sector Assets and Liabilities Management Corporation (PSALM), Pan-Asia Energy Holdings, Therma Mobile (TMO), CIP II Power Corporation, Trans-Asia Power Generation Corporation, 1590 Bauang, AP Renewables Incorporated, Udenna Management Resources Corporation, Strategic Power Development Corporation, GNPower Mariveles Coal Plant Ltd, and SEM-Calaca. The Manila Electric Company (Meralco), the country’s largest power distribution utility firm, was also found to have committed “market abuse” during the November and December 2013 supply months.

Read more: ERC: Probe vs Meralco, gencos over 2013 rate hike a ‘priority’