There have been reports that Meralco has been buying electricity from independent power producer or IPP which is also owned by Meralco. This is what we call sweetheart deal or self dealing. And of course, it is an act inimical to the public interest apart from being a criminal offense.
It was also said in the news that Meralco had a certain loan. To be able to pay the debt, Meralco had to increase its rate.
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