MERALCO clarifies points raised in Ben Kritz’s report

This has reference to the two-part column of Ben Kritz, which came out in your paper on September 2 and 3, respectively. In his column, he claimed that Meralco has for years overstated the value of its assets and replacement costs for equipment and facilites, leading to unjustifiably high allowable rates that it can charge electricity consumers.

We categorically deny that accusation and we find his claim unfair and devoid of any legal basis. The rates reflected on the customers’ bills are in accordance with existing rules, as allowed by law and set by the regulators. Any rate that a customer pays is based on what is approved by the Energy Regulatory Commission (ERC).