Abolition of PH Electricity Market Corp. sought over exorbitant power rates

The Philippine Electricity Market Corporation (PEMC)—the operator of the Wholesale Electricity Spot Market (WESM) that imposed exorbitant power rates—should be abolished.

Rep. Edgardo Masongsong of the 1st Consumers Alliance for Rural Energy, Inc. (1-CARE) party-list made the call on Monday in light of the findings of the Energy Regulatory Commission (ERC) that the WESM price during the shutdown of Malampaya natural gas plant during November to December last year were exorbitant because at least 36 power generating companies violated the Must Offer Rule of the law by withholding their power supply.