THE Energy Regulatory Commission (ERC) assured that it would issue a fair decision on or before Oct. 4 on the temporary relief sought by San Miguel Corp. (SMC) and Manila Electric Co. (Meralco). READ
“We are mindful of the timeline in SMC’s letter to Meralco,” Floresinda Baldo G. Digal, a commissioner at the ERC, toldSMC, through its energy arm SMC Global Power Holdings Corp., and Meralco jointly filed a petition with the ERC for a temporary rate increase.
In SMC’s letter to Meralco, it said that South Premiere Power Corp. and San Miguel Energy Corp., the administrators of the coal power plant in Sual, Pangasinan, and natural gas-fired power plant in Ilijan, Batangas had issued notices of termination of their PSAs, effective on Oct. 4, if the regulatory body denied its appeal for relief.
However, in SMC’s previous statement it said that if ERC failed to act on its petition, electricity prices in Luzon and adjacent provinces will go up as much as 30% starting October.
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