CAGAYAN DE ORO CITY (MindaNews/07 March) — The House Committee on Energy recommended last Thursday the suspension of the electricity spot trading in Mindanao following objections from power distributors and consumers here.
Committee chair Rep. Reynaldo Umali (2nd District, Oriental Mindoro) announced their decision to suspend the Interim Mindanao Electricity Market (IMEM) just as the public hearing ended here late Thursday afternoon.[]/a> with |||
Rodriguez said the shortage can lead to price manipulation by power producers and distributors.
“The IMEM is susceptible to price manipulation because most of its trading is unregulated,” said Bayan Muna Rep. Karlos Isagani Zarate.
Industry executives estimated that if the IMEM prevailed and distributors have to buy electricity from it, consumers would pay an additional P3 per kilowatt-hour.
Sergio Dagooc, president of the Association of Mindanao Rural Electric Cooperatives said the increase would greatly affect 60 percent of Mindanao’s 23 million power users which are poor families using one electric bulb to light their homes . (Froilan Gallardo/MindaNews)
