Ph residential power rates highest in the world

From: People's Journal

           journal.com.ph

The Philippine electricity rate for residential customers is now the highest in the whole world.

The Trade Unions Congress of the Philippines (TUCP) revealed that according to monitoring reports by Party-list Rep. Raymond Mendoza, Meralco residential rates hit an all-time high of P13.66 per kilowatt hour (kWh) beginning August.

At a dollar equivalent of US$.33 per kWh, the cost is the highest in the world, surpassing those of Denmark, Germany, Italy, Austria, Ireland, Japan, Belgium and Netherlands whose residential rates are between 22 to 32 US cents per kilowatt hour.

Residential power rates for neighboring Asian countries like Singapore, Indonesia, Thailand, and Indonesia are steady at 0.086 to 22 US cents per kilowatt hour

“This development will hurt the already precarious income of workers. The rising cost of electricity, at the same time, scares new investors from coming in. And worse, it will force existing businesses to close shop and transfer to other neighboring Southeast Asian countries where electricity is cheaper.

“The ultimate impact is: more and more Filipinos will be jobless, or, more and more will be aspiring for two jobs for them to cope (with the cost of living),  said Gerard Seno, Associated Labor Unions (ALU) national executive vice president.

Seno stressed that the ALU and an employers’ group have been urging Energy Secretary Jose Rene Almendras since last year to make drastic actions on the energy problems issue, but there has been none thus far ###.