THE Energy Regulatory Commission on Monday said it will ask the Supreme Court to reconsider its decision that denied the agency’s petition for review of the Court of Appeals resolution that allowed the termination of the power supply agreements between the Manila Electric Company and units of San Miguel Global Power.
In a statement, the ERC said it received on Monday from its counsel, the Office of the Solicitor General , the SC decision dated April 23, 2024. The ERC said the SC resolution did not include any discussion of the three fundamental issues raised for the Court’s determination in the petition for review by the OSG.
In its ruling, apart from considering the impact on power rates of the requested price adjustments, the Commission said it relied on the express language of the PSAs that stipulated a straight or fixed tariff of around P4/kWh for 10 years and that allowed for very limited instances of permissible rate adjustments, of which the particular events cited by SPPC and SMEC were not included in the PSA-defined term “Change in Circumstances”.