Back

RP vs Medina, et al.

REPUBLIC OF THE PHILIPPINES, petitioner, vs. HON. ENRIQUE MEDINA, HON. GREGORIO PANGANIBAN, HON. JOSUE L. CADIAO, HON. FILOMENO KINTANAR, HON. PAZ VETO PLANAS, as Associate Commissioners of the Public Service Commission and MANILA ELECTRIC COMPANY, respon

G.R. No. L-32068/G.R. No. L-32083/G.R. No. L-32155 | 1971-10-04

D E C I S I O N


REYES, J.B.L., J:

On 7 May 1970, Manila Electric Company (hereinafter termed MERALCO) filed an application with the Public Service Commission seeking approval of revised rate schedules, with increased charges, claiming that the floating exchange rate and economic conditions resulting therefrom increased its operating and maintenance expenses by more than 40%, and likewise increased the peso cost of servicing its foreign debts, causing it to incur an operational deficit and net loss of over one million pesos a month. The proposed new rates, applicant contended, would give it a reasonable return of below 12% of the present...