Meralco to hike rates as ERC approves P4-B cost recovery

MANILA, Philippines — Millions of consumers of Manila Electric Co. (Meralco) will have to brace for higher power rates beginning September after regulators allowed the power distributor to recover more than P4 billion in payments to a subsidiary’s gas plant. The Energy Regulatory Commission (ERC) has approved the Meralco petition to bill its customers P3.67