Veco, other firms need to explain systems losses

[goryo13]

---

this is a hot topic for this week as it had been on the headline for days now...

unsa man gyud ni ilang gekagubtan about Meralco? why now and why Winston Garcia? is this some kind of political vendetta on the part of GMA to the Lopezes or are they, all of a sudden, of all people want transparency just now?

By Amando Doronila
Philippine Daily Inquirer
First Posted 02:27:00 05/09/2008

MANILA, Philippines—The Lopez family-controlled Manila Electric Co. (Meralco) has come under heavy siege from key government sectors, trade chambers and consumer groups in a multi-pronged offensive to force it to bring down high electricity costs.

The new clash between the government and the Lopez group foreshadows a titanic struggle over electric power, the life-blood of Philippine industry and the daily lives of Filipinos. The rates involve 11 million residential electricity users, comprising 92 percent of electricity used by all households.

The Gloria Macapagal-Arroyo administration is leading the charge by mobilizing its allies in both Houses of Congress into launching a joint investigation into Meralco’s power rates and by the intervention of the government giant pension fund, the Government Service Insurance System (GSIS). The GSIS holds 25 percent of Meralco shares and four seats on the 11-member Meralco board to the Lopez group’s five, with the remaining two held by independents. This sets the stage for a pivotal boardroom battle during the annual stockholders’ meeting on May 27.

kani sang VECO pila man sad ni ilang gipasa nato ani ilang "system loss charge?"

a few more links here:

Philippine Star - Articles - -

Philippine Star - Articles - -

‘Buy us out if you want’ - INQUIRER.net, Philippine News for Filipinos

Meralco explains power buying - INQUIRER.net, Philippine News for Filipinos

Solons say Napocor should also be probed for high rates - INQUIRER.net, Philippine News for Filipinos

Palace wants ERC, not Congress, to probe Meralco - INQUIRER.net, Philippine News for Filipinos

[balatucan]

of tsurs. Mangita man na Malacnang ug escape goat sa ila kapalpakan. Birahan dayun Meralco in the hope nga hero sila sa mga tawo. Hibawo gud sila mahal ang napocor generation og transco transmission i highlight gyud ang Meralco.

Ilara ta tits. Klaro na inyo mga steps. Di na mokagat ang tawo ana. Except taga Cebu for sure. Loyual man na sila ni GMA bisan unsa ka sayup.

[giddyboy]

kung dili na gani makontrol ang presyo, gov't should step in...just like fuel, if dili na gyud mada, dili unta buhian sa gov't ila share sa Petron to still influence the prices down. the heck w/ privatization. maygani dili ma-privatize ang NFA...hehe

and maybe GSIS (as one of the stakeholders in Meralco) have found a loophole in the Lopez's handling of Meralco's acctg system...as a fellow Cebuano, we should even rally support for Winston Garcia, not bring him down...i believe he is the best performing manager gani sa GSIS in implementing radical changes there so far.

Even if this issue has some political color, the important thing is to bring the price of electricity down. Next step? VECO...hehe

[abuot]

government has every right to step into these matters especially regarding important commodities like electricity

[goryo13]

Is it a coincidence that the man leading the charge for a change in management in Meralco is also blowing on the transparency trumpet? Winston Garcia, president of the Government Service Insurance System, said Meralco management was giving him the runaround, even though he was a director on Meralco’s own board. Consider, finally, what Garcia told the ABS-CBN News Channel: “And the most intriguing question that I ask them is: How sure are you that these pilferages are not done by management? I’m not accusing [anyone of] anything but since they couldn’t give me specifics of the pilferage, how can we not tell the public that management is not part of these pilferages? That’s why I’m calling for more transparency in Meralco.�

The sly use of non-accusatory accusations is the telltale signature of a political campaign. What does this all mean? Let us put it this way: Anyone who thinks that the administration’s renewed focus on Meralco will necessarily result in lower electricity rates will be in for a rude jolt.

you know what, why not the government take over these power/water distributor (VECO, MCWD, etc.) then lets see kung mu barato ba atong kurente og ubang mga utility... also, include telecoms and other utility service provider aron mahibaw an gyud og sincere ba gyud ni sila ani ilang call for "transparency"

[goryo13]

and another reason why this is all politically motivated as in pa "pogi points" by the government:

Garcia had launched a media blitz lambasting Meralco for having rates that were P3 per kilowatthour more than what consumers pay in his home province of Cebu.

"Garcia should be making actions that bring down the price of Meralco shares, Lim said. "That is contrary to his interest as a shareholder and it only shows that what he is doing is politics-laden, so we won't fall for the call to support that."

[pxguy2]

if this is really true, there should be a roll back

[goryo13]

mao nani ron ang mga negosyante nangahadlok na kay kung kinsa tong magsupak-supak sa goberno delikado diayg e take over ilang negosyo considering nga daghan ni silag galamay anang mga quasi-government-operated company... anyway, i can't wait for them to takeover and see if the price of electricity would go down with them at the helm.

MANILA, Philippines—The administration’s all-out war to take over the Manila Electric Co. (Meralco), the country’s biggest electricity distributor, has struck fear in the business sector. Some business groups are apprehensive that they, too, could be victims of the government crackdown.

The fears were heightened following a rapid succession of punitive actions taken by the Arroyo administration over the past few weeks against Meralco over its high electricity rates in a bid to crush the economic power of the Lopez group which controls the utility’s management.

These actions include the deployment of the giant pension fund Government Service Insurance System (GSIS), which holds four seats in the 11-member Meralco board to the Lopez group’s five seats and which owns 23 percent of Meralco stock, in a takeover bid. Together with the 10-percent ownership of state financing institutions of Meralco shares, the government is within striking distance of wresting the utility from the hands of the Lopez group.

The second action that has sent chills down the spine of the business community, including the media sector, was the unleashing by the administration of its attack dogs to build a lynch mob atmosphere and crank out hostile public opinion against Meralco and its owners.

if this is really true, there should be a roll back

murag lisod na kay perti nang mahala sa gasolina og diesel pero tan awon nato kay sige man og pagarpar ang goberno nga "mahal" kunog charge ang meralco unya matud pang Garcia mas barato daw og charge ang Veco.. barato ra inyong kurente? e check ninyo na pila ang charge nila anang system loss charge nga portion sa inyong bill

[Papa domz]

dapat i- apil nila ug imbestiga ang veco..coz daku au silag charge sa atong bill especially kanang system loss charges..for what ive understand kanang system loss charge mao na ang koryente nga gigamit sa mga nangawat ug koryente nga walay bayad bayad din kitang mga legitimate consumers mao ang gipabayad...unper....!

[giddyboy]

mao nani ron ang mga negosyante nangahadlok na kay kung kinsa tong magsupak-supak sa goberno delikado diayg e take over ilang negosyo considering nga daghan ni silag galamay anang mga quasi-government-operated company... anyway, i can't wait for them to takeover and see if the price of electricity would go down with them at the helm.

MANILA, Philippines—The administration’s all-out war to take over the Manila Electric Co. (Meralco), the country’s biggest electricity distributor, has struck fear in the business sector. Some business groups are apprehensive that they, too, could be victims of the government crackdown.

The fears were heightened following a rapid succession of punitive actions taken by the Arroyo administration over the past few weeks against Meralco over its high electricity rates in a bid to crush the economic power of the Lopez group which controls the utility’s management.

These actions include the deployment of the giant pension fund Government Service Insurance System (GSIS), which holds four seats in the 11-member Meralco board to the Lopez group’s five seats and which owns 23 percent of Meralco stock, in a takeover bid. Together with the 10-percent ownership of state financing institutions of Meralco shares, the government is within striking distance of wresting the utility from the hands of the Lopez group.

The second action that has sent chills down the spine of the business community, including the media sector, was the unleashing by the administration of its attack dogs to build a lynch mob atmosphere and crank out hostile public opinion against Meralco and its owners.

murag lisod na kay perti nang mahala sa gasolina og diesel pero tan awon nato kay sige man og pagarpar ang goberno nga "mahal" kunog charge ang meralco unya matud pang Garcia mas barato daw og charge ang Veco.. barato ra inyong kurente? e check ninyo na pila ang charge nila anang system loss charge nga portion sa inyong bill

well, GSIS having 4 board seats out of 11 in Meralco, they have the numbers to influence any policy or even leadership changes...that's how open corporations work...and there's also corporate politics to speak of.

it's just a case of power play & demonizing tactics between the Lopezes and the GSIS. sa matira lang nga matibay...the Lopezes though have the higher advantage on this coz they own media companies like ABS-CBN.

in the case of the Lopezes, it is just plainly to protect & retain control of Meralco.
in the case of the GSIS, it is for transparency in Meralco's acctg affairs in the hope of bringing prices down. mized w/ politics? aw naa man gyud na. bsan callcenter gani, naay politics.

if GSIS is bullish in taking over Meralco, they could have solid grounds to do so. kinsa guy ganahan mauwawan, especially Winston Garcia.

some business sectors nahadlok? why? if there's nothing to fear, walay angay kahadlokan. Unless naay something to hide...