Power utility giant Manila Electric Company (Meralco) has formally asked South Premiere Power Corporation (SPPC) to pay the “price difference” it incurs after the San Miguel Corp. unit stopped supplying capacity from its Ilijan plant.
Power utility giant Manila Electric Company has formally asked South Premiere Power Corporation to pay the “price difference” it incurs after the San Miguel Corp. unit stopped supplying capacity from its Ilijan plant.
The power utility added that the “cost difference”’ being claimed “will be on top of all applicable fines, penalties, and liquidated damages under the PSA in the event that the Court of Appeals eventually resolves the main case and denies the petition of SPPC.” The power utility giant underscored that because of stoppage of supply from SPPC, Meralco has been sourcing 670MW of the Ilijan contracted capacity from the spot market.
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