President Ferdinand Marcos Jr. on Sunday described as “unfortunate” the recent Court of Appeals decision that would enable San Miguel Corp.’s power subsidiary to charge more for the electricity it supplies to the Manila Electric Co. (Meralco)-- READ:
President Ferdinand Marcos Jr. on Sunday described as “unfortunate” the recent Court of Appeals decision that would enable San Miguel Corp.’s power subsidiary to charge more for the electricity it supplies to the Manila Electric Co. , a move that could mean higher power bills for millions of consumers.
On Nov. 24, the CA 14th Division issued a 60-day temporary restraining order on the ERC’s rejection of Meralco’s joint petition with SPPC for a rate increase under their 2019 PSA. “If these PSAs are immediately suspended, this brings us precisely tothe situation which we at the ERC have sought to avoid with our ruling that required the proper observance of the terms of the PSA, including the contractually-agreed process of termination,” she added.
Last week, the Power for People Coalition condemned the CA decision as “illogical and anti-consumer.” “The TRO is absurd and rash. It suspended the PSA between SMC and Meralco, which governs how SMC can supply Meralco with electricity and how much SMC can charge.
“In fact, the ERC simply ordered SMC to continue implementing the PSA, thus maintaining the status quo. Going by SMC’s convoluted logic, it is being harmed because of its own action – entering into a PSA in 2019 with Meralco,” he added.
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