THE Energy Regulatory Commission (ERC) is considering its legal options after the appellate court indefinitely suspended a power supply deal that the regulator wanted the contracting parties to honor at their previously agreed price. READ:
THE Energy Regulatory Commission is considering its legal options after the appellate court indefinitely suspended a power supply deal that the regulator wanted the contracting parties to honor at their previously agreed price.
The petition filed by the contracting parties was supposed to prevent further losses to SPPC to allow it to continue supplying power to Meralco. In a statement last week, Meralco said the CA granted the writ of preliminary injunction sought by SPPC on its PSA with the power distributor. Ms. Dimalanta said: “We are seeking guidance of our counsel, OSG, on this latest resolution of the 13Division earlier denied the injunction plea of SMEC.”
In August last year, SMC Global Power said its units SPPC and SMEC had incurred a combined loss of P15 billion. The rate increase was meant to recover part or P5 billion of the units’ losses.
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