Connect with us

Hi, what are you looking for?

Economy

No Meralco disconnection until Jan.

MANILA ELECTRIC Co. (Meralco) has extended the no-disconnection policy until end-January next year for consumers who could not settle their unpaid power bills, House Speaker Lord Allan Q. Velasco said on Sunday.

In a press release, he said Meralco President Ray C. Espinosa told him that the distribution utility decided to allow consumers to pay their electricity bills at a later date without getting disconnected, after “careful evaluation and in consideration” of the lawmaker’s request to extend the grace period.

Mr. Velasco said he sent a letter on Nov. 30 to Mr. Espinosa requesting the power distribution utility to extend the no-disconnection period until January 2021 to ease the burden of consumers in coping with the global health emergency.

The Meralco executive then approved of Mr. Velasco’s request in a letter dated Dec. 14.

Mr. Espinosa, as quoted in the press release, said that the extended grace period would “benefit more than three million Meralco customers with consumption of 200 kilowatt per hour and below during the billing month of December 2020.”

The number of customers that stand to benefit from the extension make up 47% of Meralco’s customer base, he said.

Mr. Espinosa’s statements were confirmed by the Meralco team on Viber.

For Mr. Velasco, the longer grace period will provide reprieve to those who are reeling from the effects of pandemic as well as natural calamities. “This good gesture on the part of Meralco will go a long way in helping our kababayans feel secure this Christmas,” he said.

He also thanked Mr. Espinosa for “showing true bayanihan spirit and empathizing with the plight of our countrymen.”

In June, Meralco said that it was considering whether to extend the moratorium on disconnection notices for customers who still could not settle their bills.

Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT, Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has interest in BusinessWorld through the Philippine Star Group, which it controls. — Angelica Y. Yang

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

THE INTERNATIONAL Monetary Fund (IMF) said macroeconomic policy support and reforms may help diminish the pandemic’s scarring effect on the Philippine economy. “Some economic...

Economy

The country’s retirement income system is based on a small basic pension and an earnings-related Social Security System. — PHILIPPINE STAR/ MICHAEL VARCAS THE...

Economy

Global oil prices have spiked in recent weeks due to lack of supply and strong demand as more countries reopened. — PHILIPPINE STAR/ MICHAEL...

Economy

A Filipino uses a mobile phone in Parañaque, Aug. 7, 2018. — REUTERS/ERIK DE CASTRO DIGITAL TRANSFORMATION is estimated to create up to P5...

Economy

By Angelica Y. Yang, Reporter SN Aboitiz Power (SNAP) said the global health emergency had pushed back the timeline of its planned Alimit hydropower...

Economy

AYALA-LED AC Energy Corp. is moving to fully acquire ownership of renewable energy (RE) platform UPCAC Renewables Australia, after announcing that its management has...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Economy

Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Economy

Pfizer Inc on Wednesday raised its 2021 sales forecast for its COVID-19 vaccine by 29% to $33.5 billion, and said it believes people will...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.



Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!