BIZ BUZZ: Balance between cost, service sought

A coalition representing various business sectors has urged regulators to study carefully the P34 billion in recovery claims sought by the power business of tycoon Ramon Ang’s San Miguel Corp.

“This means balancing the legitimate operational needs of power providers with the fundamental necessity of keeping electricity affordable for families and businesses, which are the backbone of our economy,” the Philippine Chamber of Commerce and Industry (PCCI) said in a statement on Wednesday.

To cushion the blow on electricity end-users, the group suggested various mechanisms, such as extended or staggered payment plans, structured recovery terms or caps on recovery charges per billing cycle.

This will prevent sudden financial pressure on consumers and limit recovery charges per billing cycle.

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While acknowledging the involved parties’ right to recover costs, the PCCI emphasized the importance of equitable deliberation for all stakeholders, particularly Filipino consumers.