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| Court to decide central issue of jurisdiction over Meralco meet As the battle for control of Meralco is now in the legal arena, the main issue that needs to be resolved is: Who had jurisdiction over the May 27 stockholders meeting? |
| CA issues TRO in favor of Meralco board In a new twist to the ongoing legal battle between the warring major shareholders of the Manila Electric Company (Meralco), the Court of Appeals issued a temporary restraining order (TRO) in favor of Lopez-controlled Meralco board. |
| Monsod: Attacks on Meralco not isolated Manila Electric Co. (Meralco) board director Christian Monsod believes that the myriad of issues hounding Meralco is not isolated. |
| GSIS to seek all legal remedies vs TRO The Government Service Insurance System (GSIS) said Friday that it will seek all legal remedies to overturn the temporary restraining order (TRO) issued today by the Court of Appeals (CA) in favor of the Meralco board. Â |
| Meralco having two boards not far-fetched, says SEC official There is a possibility for the power distribution firm Manila Electric Company (Meralco) having two sets boards of directors if the Securities and Exchange Commission favors the petition filed by the Government Service Insurance System (GSIS) questioning the integrity of the recently-concluded elections for the company's board, a SEC official said Thursday. |
| Meralco asks CA to nullify SEC orders The Manila Electric Company (Meralco) on Thursday asked the Court of Appeals (CA) to nullify the Cease and Desist and Show Cause Orders issued by the Securities and Exchange Commission (SEC) Tuesday. |
| Meralco execs charged with estafa A consumers' action group filed large-scale estafa charges against officials of the Lopez-controlled Manila Electric Company (Meralco) before the Department of Justice Thursday. |
| Meralco ordered to explain why it defied SEC The Securities and Exchange Commission (SEC) asked the Manila Electric Co. (Meralco) Wednesday to explain why it defied its order to exclude management-solicited proxies in Tuesday's election of the new Meralco board, which led to the Lopez family retaining control of the power distribution firm. |
| Garcia hits Meralco management for 'defying' SEC order Government pension fund chief Winston Garcia on Tuesday described as illegal the decision of the Manila Electric Co. (Meralco) management to include management-validated proxies in the election of a new Meralco board. |
| SEC to ask Meralco why it defied its order The Securities and Exchange Commission (SEC) is expected to issue an order Wednesday asking the Manila Electric Co. (Meralco) management to explain why it defied its order to exclude management-solicited proxies in Tuesday’s election of new board members. |
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| ANALYSIS: Lopezes win corporate war but face legal battle ahead Meralco's annual stockholders meeting Tuesday was a classic lesson on how to win a corporate war. |
| Lopez group retains control of Meralco The Lopez group of companies has retained control of Manila Electric Co. (Meralco) with the election of five of its nominees in the 11-man board and the government bloc getting four nominees. |
| GSIS says Meralco board meet illegal The legal counsel of the Government Service Insurance System (GSIS) said the decision of the Manila Electric Co. (Meralco) board to push through with Tuesday's stockholders' meeting is illegal since there is an existing order from the Securities and Exchange Commission (SEC) to stop the proceedings. |
| Auditor tallies votes for Meralco board Auditing firm SGV and Co. on Tuesday afternoon started tallying the votes for the nominees in the 11-man board of the Manila Electric Co. (Meralco) following a temporary stoppage due to a cease and desist order issued by the Securities and Exchange Commission. |
| Garcia warns of physical harm as camera gets OK An official of the Manila Electric Co. said management has allowed Government System and Insurance Service president Winston Garcia to bring a camera inside the Meralco Theater where the much-anticipated stockholders' meeting will be held on Tuesday morning. |
| Protests greet Meralco stockholders' meeting Various groups staged demonstrations in front of the Manila Electric Co.’s (Meralco) Ortigas office early Tuesday morning in time for the company's tension-filled stockholders' meeting. |
| CURTAIN RAISER: Validation of proxies contentious issue in Meralco meet The month-long public row between two major shareholders—the government and the Lopez family—will come to a head in the shareholders meeting of Meralco today (May 27). And attendees can expect fireworks. |
| Golez supports media coverage of Meralco stockholders' meet; firm won't budge Parañaque Rep. Roilo Golez on Sunday supported the appeal of Government Service Insurance System (GSIS) president Winston Garcia for the Manila Electric Company (Meralco) to allow live media coverage of the company's stockholders' meeting on Tuesday. |
| Independent directors swing votes in battle for Meralco control As the May 27 annual stockholders meeting of Meralco nears, the battle for control of the country's biggest power retailer rages on. In this close fight-- the Lopezes now have five of the 11-man board, while the government has four—the independent directors can be the swing votes for decisions including changes in management. |
| We survived martial law, we will survive this - Lopez As the Lopez business empire struggles to fight off corporate and political attacks, its head has assured stockholders that it will survive the crisis just as it survived martial law. |
| Analysis: Lopez family wants 'more friendly' Meralco board In a move to assert control of the giant power distributor's board, the Lopez family is weighing various options. One of them is an alliance with five unnamed foreign companies that would buy out the government's stake in Meralco. |
| GSIS chief warned on Meralco breakup plan The Manila Electric Co. on Monday cautioned Winston Garcia, president of the Government Service Insurance System, on reported plans to break up the Lopez family-controlled distribution utility into two business groups ahead of a joint congressional hearing on high power rates on Monday. |
| Changes in Meralco board underway In the usually placid boardroom of Manila Electric Co. (Meralco), the country's biggest power distributor controlled by the Lopez family, the entry of brash and aggressive Winston Garcia, a new member of the board, was disconcerting. |
| Lopez: Attacks vs Meralco a ploy to divert attention Statement of Oscar M. Lopez, chairman of First Philippine Holdings Corporation, with regard to news reports that appeared in Friday's major dailies |
| Pangilinan nixes gov't strategy on Meralco Senate Majority Leader Francis Pangilinan urged Malacañang to rethink its "knee-jerk" response to high electricity rates even as it locked horns with power distributor Manila Electric Corp. (Meralco). |
| GSIS on Meralco: Yes to new management; no to takeover The president of the Government Service Insurance System (GSIS) clarified Tuesday that the agency only wants change in the management of the Manila Electric Co. (Meralco). It said it has no intention of taking over Luzon's biggest power distributor. |
| ANC: Q & A with GSIS president Winston Garcia Garcia spoke to ANC's "News at 8" anchor Ricky Carandang Wednesday. Below are the excerpts of the interview. |
| GSIS eyes estafa case vs Meralco The president of Government Service Insurance System threatened Monday to file large-scale estafa charges against the Lopez-owned Manila Electric Company (Meralco) for allegedly overcharging its consumers. |
| Meralco: Transparency a non-issue A ranking official of the Manila Electric Co. (Meralco) on Monday denied that the company is hiding information regarding power rates amid reports of friction between the Lopez-family controlled utility and the Government Service Insurance System (GSIS). |
| 'No plan to take over Meralco': GSIS chief The Government Service Insurance System (GSIS) on Wednesday said it has no plans of wresting control of Manila Electric Company (Meralco) from the Lopez family, legacy owners of the country's largest power distributor. |
| BREAKING STORY: Gov't, Lopezes in battle for control of Meralco A battle for control of the country's biggest electricity distributor is brewing in the run up to the May 27 annual stockholders meeting of Manila Electric Co. (Meralco). |
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| Legal uncertainties weigh down on Meralco's market value When the public shareholders of Meralco placed their bets on the Lopez family who tussled with the government and won, most felt they did too. |
| Meralco investors jittery over board row Come Tuesday's trading, which will open shortly after the start of the long-awaited annual stockholders meeting of Manila Electric Co. (Meralco), the behavior of the stock is a good watch. |
| Meralco opens higher despite trading halt, messy annual mtg Come Tuesday's trading, which will open shortly after the start of the long-awaited annual stockholders meeting of Manila Electric Co. (Meralco), the behavior of the stock is a good watch. |
| PSE: Meralco shares on trading halt May 28 MANILA - The Philippine Stock Exchange said on Wednesday it has imposed a one-hour trading halt on shares of the Manila Electric Co. (Meralco) following the results of the company's shareholders' meeting on Tuesday. |
| Meralco ends at year-low as board war rages Manila Electric Company (Meralco), the country’s largest power distributor, sank nearly 5 percent to end at a year-low on Wednesday, a day after an ugly war with state-pension fund GSIS erupted at the company’s annual stockholders’ meeting. |
| Meralco shares down in mid-trade Shares in power distributor Manila Electric Co. (Meralco) were lower in mid-trade Tuesday as investors shied away from the stock due to fears of a government take-over and amid pressure to lower its electricity rates. |
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| Foreign businessmen ask Arroyo not to reverse power sector reforms Foreign businessmen in the Philippines cautioned the Arroyo government against reversing the policies of deregulation and privatization in the power sector, saying these reforms will help improve the country’s competitiveness. |
| First Gas blames 'royalty' taxes for high power costs More than the expanded value tax (E-VAT), the scrapping of the "royalty taxes" imposed on fuel will have a bigger impact on reducing power rates. This was the suggestion of First Gas Power Corp. chief operating officer Richard Tantoco to congressmen in today’s House energy committee hearing. |
| Arroyo, Cabinet meet Meralco execs in Bohol Officials of the Manila Electric Co. (Meralco) faced President arroyo and her Cabinet in Panglao, Bohol this morning. Meralco was expected to make a presentation about the country's power rates which is part of the agenda of the meeting. |
| Meralco officials to explain power rates in Cabinet meeting Palace officials and the Lopezes on Monday both denied reports that a private meeting will take place with President Arroyo when she meets with officials of the Manila Electric Company (Meralco) in Tuesday's Cabinet meeting in Bohol. |
| Scrapping VAT on oil will 'impair' delivery of basic services Tax exemptions for oil and power will provide "immediate relief" to consumers, but its long term effect will be to put the country in worse condition, warned a finance official and a congressman after the House deliberated on exempting the oil and power industries from valued added tax (VAT). |
| COA hasn't complied with Supreme Court order to audit Meralco The High Court's instruction in its December 2006 decision over the rate increase of the Manila Electric Co. (Meralco) was clear: the power industry's regulator, the Energy Regulatory Commission (ERC), was to request the Commission on Audit (COA) to examine Meralco's financial books and verify the basis of the 2003 ERC-approved P0.22 per kilowatt hour rate increase. |
| Govt, Meralco to discuss lower power costs: officials President Arroyo's aides are to meet with executives of the top power distributor in the Philippines to look for ways to cut electricity rates, officials said Friday.. |
| Viray: 'Power sector reforms have been overtaken by events' abs-cbnNEWS.com/Newsbreak talked with Dr. Viray, May 16 where he shared his views on high power rates, Meralco, power sector reforms, and the need for well-targeted subsidies. Excerpts. |
| Privatize, cap system loss and ensure targeted subsidies - Viray Can players in the energy sector reduce electricity rates even when prices of inputs, like oil, are rising through the roof? |
| Gov't studying removal of VAT on power The government is studying the pros and cons of slashing the value-added tax (VAT) on electricity and oil products, Executive Secretary Eduardo Ermita announced Wednesday. |
| ERC: Pass on of Meralco power bills normal An official of the Energy Regulatory Commission on Tuesday said industry practice allows Meralco to pass on P500 million of its annual electric bills to consumers as part of the normal expenses of the utility firm. |
| Slow EPIRA implementation cause of high electricity prices How does one solve a problem like high electricity prices? |
| Lopez: Cut taxes to reduce power costs The Lopez family patriarch on Thursday broke his silence on accusations that Manila Electric Co. (Meralco) is to blame for the high cost of electricity in Luzon, including Metro Manila. |
| Arroyo adviser: Don't aim at Meralco, blame IPPs One of President Arroyo's economic advisers said that critics of the Manila Electric Co. (Meralco) should cut to the chase and stop blaming the power distributor for the high electricity rates in Luzon. |
| Consumer group blames IPPs for high power rates The onerous contracts entered into by the Ramos government with the independent power producers (IPPs) are the "root cause of high power rates," the Freedom from Debt coalition said. |
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| Santiago orders ERC to reduce power rates Joint Congressional Power Commission (Powercom) chair Senator Miriam Santiago today instructed the Energy Regulatory Commission (ERC) to carry out six measures that are intended to reduce power rates. |
| Santiago says ABS-CBN website piece on her ICJ bid a 'dirty trick'; editor denies it Senator Miriam Defensor Santiago has assailed an abs-cbnNEWS.com/Newsbreak report that described her campaign for a seat in the International Court of Justice (ICJ) as an "uphill battle." |
| 'Lopezes paid Aquino govt to regain Meralco' Philippine Ambassador to the United Kingdom Edgardo Espiritu on Thursday said the Lopez family paid the government of then-President Corazon Aquino to regain ownership of the Manila Electric Company (Meralco) after the first EDSA People Power uprising. |
| Enrile wants Meralco to refund meter and cash deposit charges Critics of the Manila Electric Company (MERALCO) have found yet another alleged questionable charge imposed by the power distribution company, ABS-CBN reported. |
| Power commission: big budget, excess authority Of the 17 oversight committees created so far by Congress to monitor the implementation of laws, the Joint Congressional Power Commission (JCPC) is one, if not the most powerful and heavily-funded of congressional bodies. |
| Arroyo, Cabinet meet Meralco execs in Bohol Officials of the Manila Electric Co. (Meralco) faced President arroyo and her Cabinet in Panglao, Bohol this morning. Meralco was expected to make a presentation about the country's power rates which is part of the agenda of the meeting. |
| ERC chief: Amend law to stop Meralco from passing on charges "Don't look at us." This, in essence, was Energy Regulatory Commission (ERC) Chairman Rodolfo Albano's first reaction to the raging word war between government and private stakeholders in the energy sector over high electricity rates in the country. |
| EPIRA author says power commission may be unlawful Is the Joint Congressional Commission on Power an illegal entity? |
| Senate probes on power sector show poor track record in legislation Congressional investigations on alleged irregularities in the power sector show a poor track record in finding solutions to the problems, our check of previous Senate investigations reveals. |
| Solon wants consumer representative in Meralco board The Manila Electric Co. (Meralco) and other utilities should be required to reserve at least one seat in their governing boards for consumers, Cotabato Rep. Emmylou Taliño-Mendoza said Wednesday. |
| 'Why should poor pay for Meralco's P14B debt?' "Why should the poor consumers pay for power that was never used?" An incredulous Sen. Juan Ponce Enrile posed this question on Monday after a Manila Electric Company (Meralco) official confirmed that it has a pending petition before the Energy Regulatory Commission (ERC) to recover P14 billion in losses, which will then be charged to consumers. |
| High power rates blamed on Meralco, gov't, IPPs Why are power rates in the Philippines so high? The answer to that, at least according to the Lopez-owned Manila Electric Company (Meralco), is a confluence of factors including high power generation costs, high transmission costs and layers upon layers of government taxes imposed on the electricity sector from power generation to distribution. |
| Villar wants to expand joint probe on MERALCO Senate President Manuel Villar Jr. wants to expand the coverage of the joint congressional investigation Monday to include the entire power industry, not just the alleged overpricing of Manila Electric Company (MERALCO). |
| Miriam blames 'syndicates' in Meralco for high rates, firm denies charge Senator Miriam Santiago bewailed the high price of electricity even in this era of the EPIRA or Electric Power Industry Reform Act, the law which instituted reforms in the power sector over the last seven years. |
| Meralco welcomes IPP contracts probe The Manila Electric Co. (Meralco) on Wednesday supported suggestions that all independent power producer (IPP) contracts, including those entered into by the National Power Corp. (Napocor), should be reviewed by the government. |
| House welcomes joint probe of Meralco To avoid "redundancy," Speaker Prosero Nograles today welcomed the proposal of Senator Miriam Santiago for the two legislative departments to conduct a joint investigation on the alleged overcharging of Manila Electric Company (Meralco). |
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| abs-cbnNEWS.com is the online news department of ABS-CBN Interactive Inc., a subsidiary of ABS-CBN Broadcasting Corp. ABS-CBN and Meralco are part of the Lopez Group of Companies. |
DOCUMENTS
LINKS
Meralco share price (MER)Manila Electric Company (MERALCO)Government Service Insurance SystemEnergy Regulatory Commission (ERC)Energy Department’s EPIRA Power TrackerPower Sector Assets and Liabilities Management (PSALM)National Power Corporation (NAPOCOR)National Transmission Corporation (TRANSCO)
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