At least 13 power-generating companies were found to have colluded with each other to force a spike in electricity rates in December 2013, according to investigators from the Energy Regulatory Commission (ERC).
ERC Executive Director Francis Saturnino Juan on Tuesday said the companies, including the state-run Power Sector Assets and Liabilities Management Corp. (PSALM), were charged with violating anti-competitive behavior regulations. The ERC en banc will hear cases against the 13 companies.
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