Meralco files petition to collect P8b from customers

By Alena Mae S. Flores

POWER retailer Manila Electric Co.

filed an application with the Energy Regulatory Commission to collect from consumers P8 billion or equivalent to an increase in power rates of about P0.2191 per kilowatt-hour over a 12-month period.

Meralco said this represents underrecoveries from the generation rate, transmission rate, system loss and real property taxes. Meralco’s application also includes over-recoveries from the lifeline subsidy, senior citizen discounts and subsidy and local franchise tax.

The recoveries cover the period January 2020 to December 2022 for generation, transmission, system loss, lifeline subsidy and senior citizen discounts and subsidies and January 2021 to December 2022 for the local franchise tax and real property tax.

“It is urgent that a provisional authority be immediately issued upon filing and pending hearing of the instant application. Meralco stresses that the costs covered by this Application are all passthrough costs. Hence, Meralco should neither earn any income nor incur any losses from the imposition of the same,” the company said.

Meralco wants to collect underrecoveries in the generation charges amounting to P6.413 billion equivalent to P0.1975 per kWh.

The generation charge over or underrecovery occurs due to the lag in the recovery of generation costs from consumers. The rate used to compute the generation charge in a current billing month is based on the generation cost incurred in the previous month, which is the supply month.

Meralco is also seeking approval for the under-recovery in system loss charges amounting to P764.168 million equivalent to P0.0151 per kWh.

System loss over/under recovery mainly occurs due to the difference between the actual average cost of system loss for a given year and the sum of the actual monthly system loss billings for that same year.

The company also sought approval for the under-recovery in transmission charges amounting to P607.375 million equivalent to P0.0120 per kWh and real property taxes of P228.875 million equivalent to P0.0045 per kWh.

Pse Index Closing

pullback in international prices of major commodities, particularly fuel. This is accompanied by a sustained fall in goods exports as global demand weakens further,” it said in a statement.

The BSP said despite the optimism attached to the reopening of China’s economy, such a view remained tentative given its numerous domestic challenges including the declining property sales and real estate investments.

Latest Philippine Statistics Authority data showed that the trade-in-goods deficit, or the difference between the value of exports and imports, reached $4.53 billion in April, down from $5.32 billion a year ago.

The BSP expects a lower BOP deficit of $500 million for 2024.

By Darwin G. Amojelar

PHILIPPINE Airlines said Tuesday it finalized a purchase agreement with Airbus for the firm order of nine A3501000 long-range aircraft.

PAL president and chief operating officer Captain Stanley Ng and Airbus chief commercial officer and head of international Christian Scherer signed the agreement in the presence of PAL Holdings Inc. president and chief operating officer Lucio Tan III during the Paris Air Show. PAL Holdings is the parent firm of the flag carrier.

“This order will see PAL operating one of the youngest and most modern widebody fleets in Asia. We selected the A350-1000 to give PAL the power to match capacity closely to predicted demand on both the very longest routes to the North American East Coast but also on our prime trunk routes to the West Coast and potentially to Europe as well,” Ng said.

“At the same time the aircraft will use significantly less fuel than older aircraft of a similar size, which also brings an important reduction in carbon emissions,” he said.

The A350-1000 has been selected under PAL’s Ultra Long Haul Fleet project and will fly on non-stop services from Manila to North America, including to the East Coast of the US and Canada.

The new aircraft will join two A350900s already in service at the airline.

PAL’s A350-1000 fleet will be able to accommodate 380 passengers in a three-class layout, with separate cabins for business class, premium economy and economy class.

“At Philippine Airlines we are committed to offering our passengers the best possible travel experience. These state-of-the-art aircraft will enable us to give them the convenience of nonstop flights on long range routes in a comfortable passenger cabin where our cabin crew can do what they do best – extend gracious service and world-class Filipino hospitality,” Tan said.

“The A350-1000 is our ‘mission aircraft’ to connect the world and boost the Philippine economy and society,” he said. Scherer said the order is another strong endorsement of the A350 as the world’s long-range leader. In terms of non-stop flying capability, efficiency and passenger comfort it is proven to be best in class, he said.

BUSINESS ENHANCEMENT. Clark Development Corp. is recognized for its commitment to promoting ease of doing business, with a pledge to enhance government service delivery to all locators within the Freeport. As part of this effort, CDC president and chief executive Agnes Devanadera (third from right) conducts an ocular inspection and meeting at the Clark Civil Aviation Complex on June 19. The meeting includes Sarith Vaikuntan (fourth from right), general manager of Metrojet Engineering Clark Limited. MEC expressed appreciation for CDC’s implementation of streamlined procedures and requested assistance in recruiting highly skilled professionals to meet the demands of clients.

Hirers registered at employment platform double to 40,000

By Othel V. Campos

ONLINE job portal JobStreet by SEEK reported Tuesday that the online employment marketplace’s hirer base doubled from an average of 20,000 employers pre-pandemic to 40,000 this year, increasing the jobs available for Filipinos seeking employment.

“We are very grateful for the hirers who have been trusting us throughout this journey. It gives us the inspiration to do so much more for them—giving them more quality candidates and the best talents available in the market. This proves that through teamwork and passion for the mission of giving jobs to every Filipino, it can actually be achieved,” said

JobStreet by SEEK country manager Philip Gioca.

About 30 percent of the employers in JobStreet by SEEK are offering flexible working arrangements, he said.

The platform records a daily average of 80,000 jobs available, the highest number since the pandemic. About 40 percent are entry-level jobs available for fresh graduates or jobseekers with no experience.

The peak in JobStreet by SEEK’s hirer base also translated into P1 billion in revenue. The milestone indicates that more and more hirers are trusting the job portal in seeking quality candidates, offering a variety of jobs for many Filipinos. JobStreet by SEEK said it is compli- ant with the protocols of the Department of Labor and Employment, and mechanisms are in place to eliminate scammers that are proliferating in current times, so candidates and hirers can guarantee that the jobs on the platform are from real employers and that they can find real talent.

Driven by its mission of providing jobs to every Filipino, JobStreet by SEEK has been at the forefront of nation-building. The platform has worked with different government agencies and private sectors to bring together hirers and candidates through on-ground and online job fairs. It also continuously innovate the platform offering more useful tools for jobseekers.

AIRASIA Philippines said Tuesday it will start transferring its domestic flights to a bigger and better home at the Ninoy Aquino International Airport Terminal 2 on July 1, 2023.

“Our transfer to NAIA 2 is a winning move for our guests. They can now enjoy a bigger space and expect better airport service. We may be moving to a new terminal building but they can only expect the same world’s best service from AirAsia,” AirAsia Philippines chief executive Ricky Isla said.

“Now that we are on the growth stage, we look forward to expanding further our domestic routes and capacity through this new terminal building,” he said.

AirAsia Philippines’ transfer to NAIA T2 is part of the Manila International Airport Authority’s schedule and terminal assignment rationalization which aims to decongest NAIA Terminal 4. The airline’s international flight will remain at NAIA Terminal 3.

“It also brings significant reduction in emissions and an immediate contribution to industry sustainability goals. And in the larger widebody category, the A350-1000 has set a standard of its own, with the lowest operating costs and emissions for intercontinental service. We thank Philippine Airlines for its ongoing confidence in Airbus and look forward to working with the airline as the A350 becomes the flagship of its widebody fleet,” he said.

“Change is good and we are embracing it. Weeks before our scheduled transfer we’ve already sent preflight notifications to our guests via SMS, registered email and have announced the movement extensively through our social media platforms. Also, we are working closely with MIAA management to make sure that we close the gaps of confusion among guests during the first few weeks of operation,” Isla said.

Darwin G. Amojelar and Joel E. Zurbano

11-under 60 hands

Mondilla 5-shot lead

ANTIPOLO—Clyde Mondilla flicked on the attack mode early and sustained his assault to the finish, leading to a confounding 11-under 60 for a huge fivestroke lead over Albin Engino at the start of the ICTSI Forest Hills Classic at the Nicklaus layout here on Tuesday.

The Del Monte ace’s amazing birdiebinge in preferred conditions didn’t actually stop until after he had run out of holes to play on, birdying the last five in a fashion only a player of his caliber could dish out on a course that punishes even the slightest of mistakes.

“Sa backnine, tuloy-tuloy. Every hole na makikita ko, feel ko mabi-birdie ko,” said a delighted Mondilla, who launched his stirring run with four frontside birdies, including on the ninth.

His exploit, however, won’t stand in the Tour record book since it was played preferred lies, leaving Tony Lascuña’s 63 in the PGT Forest Hills Championship in 2017 and Jhonnel Ababa’s eightunder card in the PGT Asia in 2018 as the course mark.

Mondilla made it four straight with birdies in the first three holes at the backside of the par-71 tight course that virtually lay defenseless to Mondilla’s solid driving, superb iron play and outstanding putting.

“My mindset was to hit the fairways and greens. After 3-4 holes, I got the confidence (in driving). Driving is key here although there are tight holes (fairways) but I kept on attacking. I hit it close on my approach shots and my putting clicked although I missed a couple of putts,” said Mondilla, who finished with 22 putts.

Luck also smiled at the former Philippine Open champion who last won in the PGT Asia at Pradera Verde in 2020, whose pitch from just above the drainage on No. 12 bounced before the green then rolled and disappeared into the cup.

“I was just trying to hit it close to save par. Pero pag-pitch ko, pumasok. Parang araw ko talaga at bonus na talaga un. So added confidence din,” said Mondilla, who had also set course records at Splendido Taal (63) and Calatagan (64).

Though a bogey on the par-3 13th stalled his charge, it didn’t stop Mondilla from fashioning out his remarkable feat as he birdied the last five holes inside 6 feet.

Despite his big lead, Mondilla isn’t taking any chances since there are still 54 holes remaining in the P2 million championship serving as the seventh leg of this year’s PGT put up by ICTSi.