Palace welcomes ERC decision to void WESM prices in Malampaya shutdown | Inquirer Business
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Palace welcomes ERC decision to void WESM prices in Malampaya shutdown

/ 02:13 PM March 11, 2014

Malampaya natural gas plant. http://malampaya.com/

MANILA, Philippines – Malacañang on Tuesday welcomed the Energy Regulatory Commission’s (ERC) recent decision to void the Wholesale Electricity Spot Market prices during the Malampaya shutdown.

“Pinapakita ng ERC na ginagamapanan nila ang kanilang tungkulin at patuloy nilang gagampanan ito,” Communications Secretary Herminio Coloma said in a press briefing.

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(ERC shows that it is performing its mandate and will continue to do so.)

Coloma cited the ERC decision that said WESM prices from Oct. 26, 2013 to Dec. 25, 2013 “could not qualify as reasonable, rational, and competitive.”

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“We affirm government’s commitment to protect the citizens’ welfare by ensuring stable and reasonable electricity prices,” he said, after he pointed out that the government is using its police power to stop the imposition of “very high prices.”

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TAGS: energy regulatory commission, ERC, Malampaya, Malampaya shutdown, Wesm, Wholesale Electricity Spot Market
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