26 JULY 2012
Panay Energy defers 32-centavo hike
The Panay Energy Development Corporation (PEDC) will further study its Energy Regulation Commission (ERC) approved 32-centavo per kilowatt-hour recovery cost and has deferred its supposed implementation next month.
Mayor Jed Patrick Mabilog received the information through a messenger sent by PEDC although the local chief executive said that he would have preferred if the corporation wait for the ERC decision on their motion for reconsideration sometime first week of August.
"I have strongly opposed the 32 centavos and I have been appealing to them to find ways to reduce to make us competitive also against other cities in the Visayas," Mabilog said.
Mabilog said that while its implementation is pending, definitely PEDC would still recover their cost but 32 centavos is too heavy especially for city residents.
In its December 2011 decision, the ERC approved the petition of the PEDC to recover P692.304 million that it failed to collect for the period April to August last year.
The recovery cost, which is supposed to be collected for a period of five years, was opposed by the city government and the business sector.
Currently, the average cost of electricity in Iloilo P11.80/kilowatt-hour.
Read article source in Iloilo News Today