EPIRA is “Power Failure”
Today is the 17th anniversary of the Electric Power Industry Reform Act or EPIRA that promised lower power rates and competition.
Right now, we are farther than ever from the promise of lower power rates. Ours is among the highest in Asia. The generation and transmission sectors have been completely privatized and billions in stranded debts passed on to consumers. Cross-ownership has allowed distributors like Meralco to operate and enter into contracts with their own generation plants even if more expensive. These sweetheart deals contradict the thrust to secure power from the least cost suppliers. The power sector is now controlled by a few companies that have divided the country into their own areas of control. Consumers are reeling from high power rates and questionable charges. EPIRA and the regime of privatization and deregulation have failed the people.
Nationalize power now and return power to the people.#
