The power dynamics in Metro Manila have taken a dark turn, one that should have us all deeply concerned. AboitizPower, long known for its cozy relationships with the corridors of political power, has now cemented its stranglehold on the energy market in the nation’s capital.

The consequences? Higher electricity rates for millions of unsuspecting consumers. This is a debacle that reeks of manipulation and cunning machinations.

In a move that should have set alarm bells ringing throughout the city, AboitizPower has successfully secured a one-year contract with Meralco, granting it the authority to supply power to the very heart of the Philippines. The implications of this deal are staggering, as it promises a swift and merciless surge in electricity rates. This impending financial burden falls squarely on the shoulders of the common people.

But how did we get here? It’s a tale fraught with political intrigue and corporate scheming, and it’s high time we shone a spotlight on it.

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First, a quick rewind.

Remember the buzz around our previous exposé? Well, AboitizPower’s tentacles had been insidiously inching towards Meralco for some time. And now, their grasp is unrelenting.

News reports have revealed that Meralco inked a power supply agreement with AboitizPower’s subsidiary, Therma Luzon, Inc., earlier this year for a staggering 370-megawatt (MW) capacity, at an eyebrow-raising rate of P8.14 per kilowatt-hour (kWh). This is a deal cloaked in secrecy, with the exact terms still hidden from public scrutiny.

So, what exactly went wrong to bring us to this grim juncture?

San Miguel Corp., the previous power provider, and its subsidiary SPPC found themselves ousted from the scene, thanks to a puppeteered Energy Regulations Commission (ERC), teeming with ex-AboitizPower executives. Their weapon of choice? Denying SMC’s petition for a price hike.

To be fair, SMC failed to anticipate the tempestuous storms of the energy market, including the ongoing Eastern European conflict and the menacing specter of inflation. Their 2019 contract with Meralco, at P4.2455 per kWh, suddenly seemed inadequate in the face of surging global uncertainties. Forced to choose between financial ruin and survival, SMC had no recourse but to sever ties with Meralco.

Ironically, after SMC’s abrupt exit, Meralco was thrust into a precarious position. Left with no alternative, they had to purchase power from the unpredictable spot market, where the average price for November of the previous year, as dictated by the ERC, reached a staggering P8.47 per kWh.

It doesn’t take a genius to spot the political puppetry at play here. Some of Aboitiz’s faithful henchmen within the ERC were seemingly intoxicated by their newfound power. It’s all too clear that this was a meticulously coordinated and shamelessly successful endeavor to dethrone SMC, paving the way for Aboitiz to emerge as the undisputed tyrant of the Metro Manila power landscape.

In the end, it’s the ordinary citizens of Metro Manila who will bear the brunt of these ruthless power plays. As electricity rates soar and household budgets strain, the shadowy figures behind this treacherous game continue to enrich themselves at the expense of the very people they’re sworn to serve.

Metro Manila, beware. AboitizPower’s dominion is upon us, and the price we pay may be more than just financial. It’s time to demand transparency, accountability, and a return to a fair and just energy market that puts the interests of the people ahead of the power-hungry elite.

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