MANILA, Philippines — Warning of possible high electricity rates, Bayan Muna on Wednesday renewed its call for an independent bidding of Meralco’s supply contracts. Under the old TORColmenares said that under the old bidding terms, Meralco demanded that only new or greenfield generation plants that would operate in 2024 were qualified to bid. “This demand practically disqualified all other bidders because only Meralco has a greenfield plant that will operate in 2024,” Colmenares said. “This essentially means that no genuine bidding took place as Meralco would be contracting with its wholly-owned subsidiary Atimonan One Energy Inc.,” he added. “We will continue to monitor the revised TOR and will not hesitate to go to the Courts to restrain the bidding if we find that the bidding process still grants Meralco the opportunity for self-dealing and sweetheart deals that would increase electricity rates,” Colmenares said.

Source: Philippine Daily Inquirer January 15, 2020 10:07 UTC