INQUIRER.net
1:16 pm | Wednesday, February 5th, 2014
INQUIRER FILE PHOTO
MANILA, Philippines – Malacañang on Wednesday said it is against the lifting of the temporary restraining order (TRO) on the Manila Electric Co.’s power rate increase.
“Government believes that unjustifiable price hikes should not be passed on to the people. Therefore, the proposed petition for the lifting of the TRO is not consistent with the public interest,” Communications Secretary Herminio Coloma said at a Palace press briefing.
Coloma also said that President Benigno Aquino III has agreed that Meralco and other concerned companies should return funds earned from their operations, if found guilty of manipulating the energy market.
“The President also believes in enforcing the provision of the Epira (Electric Power Industry Reform Act) on possible disgorgements of profits if current investigations by the DOE (Department of Energy) and the DOJ (Department of Justice) will establish that there has been collusion among the industry players,” he said. source
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