The Supreme Court has dismissed the Energy Regulatory Commission’s (ERC) motion for reconsideration regarding a previous ruling that overturned the ERC’s decision to deny the rate hike petition of San Miguel Global Power Holdings Corp.’s units.
San Miguel Corp. (SMC) announced that it received the resolution from its legal counsel, stating that the court rejected the ERC’s motion for reconsideration and its request for a temporary restraining order to halt the termination of power supply agreements between South Premiere Power Corp. (SPPC), San Miguel Energy Corp. (now Sual Power Inc.), and Manila Electric Co. (Meralco).
The Supreme Court found no substantial arguments to alter its decision and ruled against further reconsideration.
The dispute began when SPPC and SPI sought a price adjustment in 2022 to cover increased fuel costs, which was denied by the ERC, leading to the termination of their supply agreements with Meralco.
Following the latest ruling, ERC Chairman Monalisa Dimalanta stated that the agency is consulting with the Office of the Solicitor General as they await the official court decision.
Source: PhilNews24 | September 4, 2024
SUPREME COURT TURNS DOWN ERC APPEAL AGAINST SAN MIGUEL
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