power suppliers liable for market abuse

power supply
photo credit: gmanews.tv

The Manila Electric Co. (Meralco) and 12 other power suppliers should be held liable for market abuse in connection with the record power rate hike in December 2013, the Energy Regulatory Commission (ERC) Investigating Unit alleged on Tuesday.

The ERC IU is filing a case against the power suppliers before the commission. The suppliers may be meted a penalties ranging from P50,000 to P50 million.

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