Miguel Energy Corp. that was meant to suspend an order issued by the Energy Regulatory Commission last September on price adjustments with the former’s contract to supply electricity to the Manila Electric Co. .
“The fixed price of supply under the SMEC PSA will continue to provide some protection for Meralco customers. Having said that, we at the ERC will continue to work with all stakeholders to explore more price mitigation measures,” Dimalanta said. The 16th Division, on the other hand, granted SMEC’s motion that the subject case be consolidated with another case with similar facts filed by sister firm South Premiere Power Corp. pending before the CA’s 13th Division.SPPC won a 60-day TRO against ERC for a similar case, which is expected to expire next week.
ERC cited the Jan. 13 decision of the appellate court that the regulator’s denial of SMEC’s motion for price adjustment already preserves the status quo – which is the contract price in SMEC and Meralco’s 2019 agreement.
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