Latest news with #Meralco
GMA Network
7 hours ago
- Business
- GMA Network
Electricity consumer group seeks overhaul of CSP regime
Consumer advocacy group National Association of Electricity Consumers for Reforms (Nasecore) is seeking an overhaul of the competitive selection process (CSP) scheme that governs electricity rate-setting. In a statement on Tuesday, Nasecore, citing a letter to Department of Energy (DOE) officer-in-charge Secretary Sharon Garin dated June 3, said it proposed that the DOE publicly declare the current CSP framework a 'policy failure' and recognize its inability to ensure transparent, competitive, and cost-effective procurement. The CSP refers to the procurement mechanism, mandated by the DOE, wherein a distribution utility—such as Meralco—procures supply from a generation company through competitive bidding to get the least cost of power for the consuming public. With this, Nasecore is proposing a 'comprehensive overhaul' of the CSP policy, starting with a DOE-led, multi-stakeholder review. GMA News Online reached out to the DOE for comment. The story will be updated once a response is received. The group said the CSP scheme 'clearly failed to uphold its core objectives of transparency, fair competition, and least-cost power supply procurement.' This, as Nasecore said it 'continued to monitor rates and power supply deals by Meralco and found that 'the CSP mechanism has not delivered meaningful market competition.' 'On the contrary, it has largely preserved the dominance of incumbent and affiliated generation companies, especially in the franchise area of Meralco. No new independent or reliable power suppliers have been introduced into Meralco's generation mix in the past decade,' the group said. Nasecore is urging the DOE to conduct a full audit of Meralco's PSAs from 2019 to 2024 to assess adherence to CSP rules and procurement guidelines. Sought for comment, Meralco said that a a 'highly regulated electric distribution utility,' it strictly complies with the policies and rules of the DOE and the Energy Regulatory Commission (ERC) related to the procurement of power supply for its captive customers. 'Meralco also regularly updates and submits its Power Supply Procurement Plans (PSPPs) for DOE approval and conducts CSPs in accordance with these approved plans,' it said. 'All resulting PSAs undergo ERC review, including regulatory evaluation and public hearings, to ensure transparency, fairness, and compliance with established guidelines,' it added. Meralco said it remains fully committed to delivering reliable and least-cost power to its customers while adhering to the legal and regulatory frameworks governing the CSP and the energy sector in general. The consumer advocacy group called for full public disclosure of CSP documents, including bid criteria, evaluations, and awarded contracts. Nasecore said it also furnished the three-page letter to President Ferdinand Marcos Jr., Executive Secretary Lucas Bersamin, Senate President Francis Chiz Escudero, and House Speaker Ferdinand Martin Romualdez. — BM, GMA Integrated News
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GMA Network
30-05-2025
- Sport
- GMA Network
Meralco rallies late past Barangay Ginebra
PBA Philippine Cup. May 30, 2025. Chris Newsome (11) of the Meralco Bolts against Barangay Ginebra San Miguel. (Photo: PBA Media) Meralco mounted a late rally to defeat Barangay Ginebra, 82-73, on Friday in the PBA Philippine Cup at the Smart Araneta Coliseum. After the game was tied at 71 with around four minutes left, the Bolts ignited an 8-0 run to claim enough margin heading into crunch time. Barangay Ginebra tried to inch closer as Jamie Malonzo's free throws cut the deficit, 79-73, before head coach Tim Cone was ejected from the court after incurring two technical fouls as he stormed the playing court while arguing with officials. Eventually, the Bolts sealed the victory after Chris Newsome's technical free throw and Chris Banchero's jumper. Newsome led the Bolts with 15 points, six rebounds, two assists, two blocks, and a steal, while Banchero had 14 points. Cliff Hodge had 11, while Bong Quinto added 10 as Meralco improved to 6-5 to cap its elimination round campaign before heading to BCL Asia. Scottie Thompson had 16 points, seven boards, three assists, and three steals, while Jamie Malonzo chipped in his own 16 points. Troy Rosario registered a double-double of 14 points and 10 boards as Barangay Ginebra slipped to 5-3. Scores: Meralco 82 – Newsome 15, Banchero 14, Hodge 11, Quinto 10, Cnasino 10, Black 5, Rios 5, Almazan 4, Jose 4, Bates 4. Barangay Ginebra 73 – Thompson 16, Malonzo 16, Rosario 14, 12, Abarrientos 12, Holt 3, Cu 0, Gray 0, David 0. Quarters: 17-17, 37-37, 61-56, 82-73. —JKC, GMA Integrated News
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GMA Network
25-05-2025
- Sport
- GMA Network
Meralco snaps NLEX' six-game winning streak
Meralco ended NLEX' six-game winning streak, 108-92, on Sunday in the PBA Philippine Cup at the Philsports Arena in Pasig. After trailing 45-47 by end of the first half, the Bolts surged in the third quarter as they made an early 6-2 run to open the second half. After both teams were tied at 54, the Bolts made a 10-0 run to widen the gap with less than five minutes remaining in the third quarter, before claiming a 77-70 lead at the end of the said frame. CJ Cansino then opened the final frame with a bang as he made three free throws off a Kevin Alas foul, followed by a four-pointer to quickly give the Bolts a 14-point advantage. In the fourth period alone, Cansino scored 11 of the Meralco's 31 points as the Bolts cruised to the victory. Newsome had 21 points to lead Meralco, while Cansino had 20 points. Bong Quinto added 18 markers, while Chris Banchero and Cliff Hodge, who is returning from suspension, had 16 and 12 points, respectively. With the victory, the Bolts improved to 5-5. Robert Bolick registered a game-high 22 points, while Alas and JB Bahio had 14 points apiece in the losing effort which put the Road Warriors at 6-2. Scores: Meralco 108 – Newsome 21, Cansino 20, Quinto 18, Banchero 16, Hodge 12, Black 8, Pasaol 7, Almazan 4, Jose 2, Caram 0, Bates 0. NLEX 92 – Bolick 22, Bahio 14, Alas 14, Mocon 12, Fajardo 11, Ramirez 6, Nieto 5, Amer 3, Torres 3, Semerad 2, Valdez 0, Herndon 0. Quarters: 21-18, 45-47, 77-70, 108-92. —JKC, GMA Integrated News
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GMA Network
21-05-2025
- Sport
- GMA Network
Meralco downs Blackwater, snaps back-to-back losses
PBA Philippine Cup. May 21, 2025. Chris Newsome of the Meralco Bolts against the Blackwater Bossing. (Photo: PBA Media) Meralco returned to its winning ways after taking down Blackwater, 103-85, on Wednesday in the PBA Philippine Cup at the Ynares Center in Antipolo. The Bolts snapped back-to-back losses against TNT and Magnolia as they improved to 4-5, while the Bossing absorbed their third straight loss and slipped to 1-5. Meralco started to pull away in the second period as they outscored Blackwater, 30-21, to claim a 52-39 by halftime. Blackwater opened the second half with a 7-0 run but Meralco managed to recover and eventually cruised to the victory. Chris Newsome and CJ Cansino led the Bolts' offense with the former having 19 points, seven boards, an assist, and three steals, while the latter added 14 markers. Chris Banchero and Raymar Jose added 13 and 12 points, respectively. Christian David and Sedrick Barefield, meanwhile, carried more than half of the Bossing's scoring load with the former making 24 points and the latter with 23. Scores: Meralco 103 – Newsome 19, Cansino 14, Banchero 13, Jose 12, Bates 10, Black 9, Quinto 8, Almazan 8, Pasaol 4, Mendoza 4, Torres 2, Rios 0, Maguliano 0. Blackwater 85 – David 24, Barefield 23, Escoto 11, Mallilin 7, Casio 6, Jopia 3, Caperal 3, Andrade 2, Ayonayon 2, Tartter 2, Mitchell 2, Guinto 0, Ilagan 0, Corteza 0, Chua 0. Quarters: 22-18, 52-39, 76-62, 103-85. —JKC, GMA Integrated News
