Audit of power firms’ ‘over-collection’ sought
By Jovi T. De Leon
, September 8, 2011
CITY OF SAN FERNANDO – Business and consumer groups in Pampanga urged the Energy Regulatory Commission (ERC) to immediately conduct a regulatory audit of three power distributors in the province.
The three power firms with alleged “undisclosed” over collections as the San Fernando Electric Light and Power Company (Sfelapco), the Angeles Electric Company (AEC) and the Pampanga 1 Electric Cooperative (Pelco 1) in Mexico town.
In a letter to Energy Regulatory Commission (ERC) Chairperson Zenaida Ducut, Nasecor — a non-government organization monitoring power utilities and consumers nationwide — show that Sfelapco has an over collection of P1,612,254,221 (net of purchased power cost) from 2004 to 2009.
Sfelapco’s approved revenue unbundling, as per ERC Case 2001-905 granted December 8, 2008, is only P197,206,216 covering distribution, supply and metering charges.
But since 2004 as reflected in its annual report, Sfelapco posted over collections ranging from P169,432,725 to as much as P303,849,871 in 2009.
AEC, on the other hand, has an over collection of P528,977,139 from 2005 to 2008. Its annual revenue requirement is P222,036,000.
Pelco 1, meanwhile, has an over collection of P140,893,592 from 2004 to 2008 with an annual revenue requirement of P74,167,340.
The annual revenue requirement as decided by the ERC covers all aspects, including purchased power, payroll, operations and maintenance, depreciation and amortization, and return on base.
This is adjusted by the energy commission upon request of regulated power firms.
“But it seems that ERC has not been monitoring and ‘regulating’ these power utilities because the over collections just keep on rising to the detriment of consumers who bear the costs of improvements and capitalization, which should not be the case,” Nasecor president Pete Ilagan said. Power distribution is a guaranteed profitable business by the ERC, he said.
“Nasecor is urging the ERC to look into this and return to consumers the millions and even billions of over collections in terms of reduced rates or refunds, just like what the electric company in Cagayan De Oro did recently,” he added.
He said the ERC has considered such over collections as “normal” considering the rise in prices and increasing consumption of consumers.
“This is alarming because we take this as an abuse of market power because they decided to deliberately keep to themselves these over collections instead of disclosing this by way of a petition to reduce their current rates and maintaining the approved annual revenues,” Ilagan said.
Pampanga Chamber of Commerce and Industry, Inc. (Pamcham) vice chair Rene Romero, for his part, said that Sfelapco, AEC and Pelco 1′s over collections are “double whammies” for Kapampangan consumers and the business sector.
“It’s double whammy because these power utilities charge consumers for additional profit when they are regulated firms,” he said.
He said that since power rates are high, the business sector expectedly have to increase the prices of products and outputs based on these rates.
“The ultimate result is the consumer bearing the brunt of high prices of goods and commodities,” he said.
“It is doubly alarming that is why we are urging the ERC to do something about this since many prospective investors have backing out because of our high power rates compared to other countries like Vietnam and others in Asia,” he added.
He said that the board of directors of PamCham has conducted initial talks with Sfelapco to hear their side of the issue.
Romero said that PamCham and Nasecor are planning to elevate their appeal to the Ombudsman or proper court if need be. “We are talking here of the welfare of not only the business sector but all Kapampangan consumers,” he said.
Published in the Sun.Star Pampanga newspaper on September 07, 2011.
Source: http://www.sunstar.com.ph/pampanga/local-news/2011/09/06/audit-power-firms-over-collection-sought-177700
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