Rising to the defense of the court, Gatmaytan said BCC has joined a neo-colonial chorus – the American Chamber of Commerce (AmCham), European Chamber of Commerce (ECC), and their local counterpart the Makati Business Club (MBC) – that has been peddling the alarmist line that no investors will come if Meralco does not get a rate increase.
In the wake of the high court’s hearing oral arguments on a Freedom from Debt Coalition petition questioning the power of the Energy Regulatory Commission (ERC) to issue a provisional order raising Meralco’s rate, BBC chairman Geoffrey Short expressed concern over what they termed as the growing tendency for the SC to interfere with the regulatory process associated with the energy sector.
While these business chambers warn of foreign investments drying up, they ignore industry practices that are of doubtful legality and bleed the consumers dry, Gatmaytan added.
He said he has been contacted by consumer groups like the National Association of Electricity Consumers for Reforms and Genaro Lualhati, and they are looking into "plunderous possibilities" in an industry wrought by confusing technicalese and laid-back regulators.
Consumers were actually expecting to have their "day in court" at the highest tribunal, considering the largely pro-consumer ruling of Justice Reynato Puno in the Meralco rate refund, but they were impressed with the seven-hour marathon hearing where issues and concerns that could not be ventilated at the ERC ere thoroughly discussed.
Any contact or transaction can be challenged in any appropriate court by all parties in interest, up to the highest courts, Gatmaytan said. In the case of the power industry where all costs are borne by the captive customers, judicial review and challenge must be available to all the parties.
Instead of threatening, these multi-nationals that are making huge profits on artificially high rates should bring their costs and margins down. If not voluntarily, we will get those rates down by judicial edict, Gatmaytan said.