MANILA - The House of Representatives on Tuesday resumed its investigations on Manila Electric Co's power supply deals that allegedly did not undergo competitive bidding.
Bayan Muna Partylist Rep. Carlos Zarate reiterated that the agreements between Meralco and its affiliate power producers would disadvantage consumers.
"In the last hearing, Meralco claimed that with or without the competitive selection process, the (power) rates are still speculative. This only confirms that their claim that this is 'the least cost' does not hold water," Zarate told the hearing.
The lawmaker said during a previous hearing on March 13 that consumers could lose P12.44 billion annually due to the supply deals.
The Energy Regulatory Commission meanwhile said the power supply agreements were not yet approved pending consultations with stakeholders.
ERC Commisioner Josefina Patricia Asirit said that of the 7 agreements, 3 had not even been scheduled for hearing.