MANILA, Philippines — Manila Electric Company (Meralco) will have to brace themselves for a hefty sum of earnings this month as electricity prices, not surprisingly, goes up.
The company has alerted consumers in their franchise area to prepare for an increase in their profits that will range from P700 to more than P1,050 per household.
“The higher usage of electricity due to the Christmas season contributed to the expectation that the profits for December will be higher,” said Kurt Yenteng, head of utility economics at Meralco. “Much much higher.”
Meralco said the big increase in financial gain is due to higher usage of electricity of households this holiday season, with most families putting up Christmas decors and longer hours of lights and appliances turned on due to family gatherings and parties. Malls who crank-up their air-conditioning to make Christmas shoppers comfortable are also factored in.
Meralco spokesman Kim Masa assured their earnings will go down by February. “This is only temporary because it is the season of
“These ‘scheduled maintenance’ are a blessing in disguise,” said Masa while gesturing quotation marks with his fingers. “They are strategically set at certain dates for the company to maximize profits.”
The fact that gas prices also soared last week also helped sell their excuse, explained Masa.
Expenses that could reach billions for scheduled rehabilitation of distribution and transmission lines damaged by Super Typhoon Yolanda has the possibility of being safely passed-on to consumers.
“This is done to protect our coffers,” added Masa. “Expenses, especially maintenance and repairs, should never be shouldered by the company providing you with these services.”
“It’s not like Filipinos can protest and go up in arms with our actions, which by the way is approved by the Energy Regulatory Commission,” chimed Yenteng. “Unless they want to celebrate the holidays in the dark.”