Power consumers find ally in lawmaker
By Kathrina Alvarez
Thursday, July 28, 2011
ELECTRICITY consumers who are targeted to bear the P139 billion stranded debt and contract costs found an ally in House Deputy Speaker Lorenzo Tanada III after he questioned the ballooning debt of the Power Sector Assets and Liabilities Management Corp. (Psalm).
Psalm is the government body mandated by Republic Act No. 9136 or the Electric Power Industry Reform Act (Epira) to sell government-owned power plants and handle liabilities of the National Power Corp. (Napocor).
Last June 28, Psalm filed a petition with the Energy Regulatory Commission (ERC) for the recovery from consumers P65 billion for stranded debts, and another P74.3 billion for stranded costs covering the years 2007 to 2010. The amounts would be passed to the consumers through the universal charge.
“Epira was intended to be the solution to the country’s electricity problems, but the Psalm now literally wallows in debt amounting to some $16 billion and continuing operational losses,” Tañada said.
Tañada, a member of the Joint Congressional Power Commission, said he will ask Congress and the executive department to convene an inter-agency, inter-branch, and multi-stakeholder process to discuss and decide whether consumers can afford a full pass-on of Psalm debts and losses.
He will also ask the House Committee on Energy to lead efforts to evaluate the performance of the ERC in the discharge of its regulatory functions.
The price of electricity – which at P8.14 per kilowatt hour is already the highest in Asia – will increase once ERC grants the petition of Psalm.
Asset Management Vice President Conrad Tolentino told Sun.Star that Psalm welcomes any investigation into its petition.
“Psalm welcomes any examination into its proposed universal charge rates. We note, though, that the ERC’s public hearings will apparently have the same objective,” he said in a text message.
Tañada also bared that the Commission on Audit found out that Psalm has paid excessive amounts in professional fees to legal advisors, consultants, and contractors, and also paid high incentives to employees.
In Psalm’s statement of expenses, the cost of its professional services ballooned to P1.16 billion in 2009 from P118 million in 2008.
The Freedom from Debt Coalition (FDC), for its part, again urged Psalm and Napocor to open its books to the public so that consumers can determine whether the application for higher electricity rates is reasonable.
Last year, Psalm had sought to recover P471-billion stranded debts intended for pass-on to consumers under the universal charge component of the electric bills.
The petition – which was a subject of an investigation at the House Committee on Energy – was withdrawn and revised by the Aquino administration.
FDC had already urged Psalm to confront head-on one of the roots of this problem – the onerous contracts with independent power producers (IPPs).
The group also urged the government to conduct a substantial new round of review of contracts with IPPs, and immediately rescind onerous ones already established by the previous Inter-Agency Review Committee.
This, after the committee produced a report that showed five contracts were ‘onerous’, 24 other contracts contain various degrees of legal, financial, and social infirmities, and only six of the 35 contracts are ‘clean’. (Sunnex)
Source: http://www.sunstar.com.ph/manila/local-news/2011/07/28/power-consumers-find-ally-lawmaker-169600
Although the Philippines is not known for being the wine capital of Asia, Clark Pampanga is the most frequently visited destination for wine lovers in Cebu, Angeles City and Manila to shop for some good vintage wine. The famous wine shop outside Manila called Clark Wine Center is the largest wine shop in Philippines which offers over 2000 selections of fine vintage wine from all wine regions, vintages spanning over 50 years covering all price ranges.
This wine shop in Clark is highly recommended as one of the best places to buy wine in Pampanga. Clark Freeport is just outside Manila near Subic and Angeles City Philippines is Clark Wine Center. Visitors buy wine in Manila and Pampanga should not miss stopping at this wine shop for a few bottles of fine vintage wines to bring home.
Established in 2002, YATS WINE CELLARS is a wholly-owned business unit of Hong Kong-based Yats International which owns and operates resort, wine shops, wine bars and fine-dining restaurant properties in Clark Freeport in The Philippines. YATS WINE CELLARS caters to a clientele of discerning wine lovers from all over the world. Besides a good selection of wine for everyday enjoyment, YATS offers a unique selection of aged vintage wines made available to wine enthusiasts at remarkably affordable prices. Vintages span over a century and the selection of old- and new-world wines covers all major wine regions.
http://www.ClarkWineCenter.com
Getting to this wine shop in Pampanga Angeles City Clark Freeport Zone Philippines from Manila
Getting to the Clark Wine Center wine shop from Manila is quite simple: after entering Clark Freeport from Dau and Angeles City, proceed straight along the main highway M A Roxas. Clark Wine Center is the stand-along white building on the right, at the corner A Bonifacio Ave. From the Clark International Airport DMIA, ask the taxi to drive towards the entrance of Clark going to Angeles City. From Mimosa, just proceed towards the exit of Clark and this wine shop is on the opposite side of the main road M A Roxas.
Clark Wine Center
Bldg 6460 Clark Observatory Building
Manuel A. Roxas Highway corner A Bonifacio Ave,
Angeles Clark Freeport Zone, Pampanga 2023
0922-870-5173 0917-826-8790 (ask for Ana Fe)
YATS Wine Cellars
Manila Sales Office
3003C East Tower, Phil Stock Exchange Center,
Exchange Rd Ortigas Metro Manila, Philippines 1605
(632) 637-5019 0917-520-4393 ask for Rea or Chay
Best place to buy wine in Clark Pampanga outside Manila near Subic and Angeles City Philippines is Clark Wine Center.
Wedding couples looking for wedding reception venues and beach wedding venues can log on to this Philippines Wedding Venue web site for free information and assistance:
http://www.PhilippinesWeddingVenue.com
While in Clark, it might be a good idea to enjoy an evening of wine-and-dine in the fine dining Yats Restaurant and Wine Bar that features an award winning 2700-line wine list. It is located in Mimosa Leisure Estate of Clark Freeport Zone. For more information, visit http://www.YatsRestaurant.com
YATS Leisure Philippines is a developer and operator of clubs, resorts and high-class restaurants and wine shops in Clark Angeles Philippines http://www.YatsLeisure.com
Looking for famous tourists spots, places to visit and see, relax and unwind in Clark, Pampanga, Philippines? You may want to check out these sites also:
http://www.HotelClarkPhilippines.com
http://www.ClarkPhilippines.com
http://www.YatsWineCellars.com
Yats Restaurant is the best restaurant for special dinner, best restaurant for dinner with friends near Manila, also the best place to celebrate special events.
Famous Restaurant in Pampanga, a place to dine with friends in Clark, cozy restaurant with a nice ambience, a nice function place for special occassions
www.YatsRestaurant.com
Where to go in Clark? Hotel Clark Philippines is a De Luxe Hotel in Clark and Subic, a risk free place to stay, cozy and nice ambience, a nice function place for special occassion
www.HotelClarkPhilippines.com
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