PRESIDENT Ferdinand R. Marcos, Jr. is hoping the CA will reconsider its decision temporarily suspending the implementation of an SMC Global Power Holdings Corp. subsidiary’s PSA with Meralco, warning this may result in higher electricity rates.
Linesmen fix electric posts in Tondo, Manila. — PHILIPPINE STAR/ RUSSELL PALMAis hoping the Court of Appeals will reconsider its decision temporarily suspending the implementation of an SMCsubsidiary’s power supply agreement with Manila Electric Co. , warning this may result in higher electricity rates.
Meralco Chairman Manuel V. Pangilinan said that the power distributor will now seek guidance from the Energy Regulatory Commission regarding its next step. To recall, SMC Global Power’s petition stemmed from the ERC’s denial of its joint petition with Meralco, the buyer and distributor of its electricity, for a temporary rate hike.
Jose Ronald V. Valles, Meralco’s first vice-president and head of its regulatory management, said the company is following up its request with the Department of Energy for an exemption from competitive selection process of some emergency PSAs.
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