Perez takes up Meralco refund scheme with biz groups

Energy Secretary Vincent S. Perez has started a series of meetings with various business groups to resolve the issue of the huge refund for industrial and commercial customers of Manila Electric Co. (Meralco).

"I was instructed by President Arroyo to mediate between business groups and Meralco in finding an acceptable solution for the refund to industrial and commercial customers," Perez said.

He said he had met with the Philippine Chamber of Commerce and Industries (PCCI) and will also be getting the side of the Employers Confederation of Philippines (ECOP), the Makati Business Club, and other business groups.

"We need to ensure that any refund arrangement will be acceptable to the business groups and at the same time keep Meralco viable," Perez said.

But he pointed out that any decision that will be agreed upon by Meralco and the business groups still needs approval by the Energy Regulatory Commission (ERC), the energy sector watchdog.

Perez said he expects to discuss Meralco’s proposal to issue "financial instruments" that the business community can claim as part of the refund scheme.

"That (financial instrument) will be part of the features that we will have to discuss with them," he said.

Phase IV of the refund will require some P18.6 billion in funding with about 130,000 customers, mostly in the industrial and commercial sector. Phase III, on the other hand, will involve 800,000 big residential and general services with P4 billion worth of refund.

In another development, Perez is also expected to sign on Sunday (Oct. 19) a memorandum of understanding (MOU) with the government of Thailand for cooperation on oil and gas development initiatives.

It was learned that the two governments are exploring the possibilities of putting up oil depots in both countries. The possible site being eyed for the oil depot is inside the Subic Bay Freeport.

At the same time, Perez initiated the awarding of 10 outstanding bus drivers in Metro Manila as part of the government and transport groups’ efforts to recognize hardworking men and women in the transport sector.

"This pilot project will hope to bring respect and recognition for these people in the transport sector. The grand prize winner will receive P100,000 while his association will get P10,000," he said.