Meralco: Regulator OK’s new borrowing

MANILA Electric Co. (Meralco) said that regulators had already given it the go signal to incur fresh debt despite a consumer group’s move to block it.

Leo Mabale, Meralco regulatory affairs head, said the utility already secured the loan that the non-government National Association of Electricity Consumers for Reforms (Nasecore) is trying to prevent the company from contracting, adding it had approval from the Energy Regulatory Commission (ERC) for this.

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