Associate professor at the University of the Philippines Diliman, Rowaldo R. Del Mundo said that the Philippines must lower its electricity rates if it wants to compete with countries inside the ASEAN region.
Del Mundo said that Philippines must lower the current cost of electricity by at least 30 % (percent) to be competitive in the region.
The professor also said that the power rates in the Philippines have registered increases higher than the inflation rate, with the average annual changes for residential customers up by 8.73 percent from 2004 to 2011, while the inflation rate was 4.83 percent on average in the same comparable period.
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