Daily TribuneThe President pointed out the 'extremely deleterious effect' of the TRO 'on power prices for ordinary Filipinos'
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(File Photo) President Bongbong Marcos | by Yummie Dingding for the Daily Tribune
President Bongbong Marcos is aware of the implications of the Court of Appeals' Temporary Restraining Order on the Energy Regulatory Commission's suspension of the implementation of the South Premier Power Corp. (SPPC) Power Supply Agreement (PSA) with the Manila Electric Co. (Meralco) — and he hopes it can be undone.
Marcos, in a statement released on 26 November by the Office of the Press Secretary, said:
"The implementation of the PSA between Meralco and San Miguel, it is unfortunate that this has happened, it will cause further dislocations and possible price increase for power.
"We hope that the CA will reconsider. And include in their deliberations the extremely deleterious effect this will have on power prices for ordinary Filipinos."
The OPS pointed out "the 14 Division of the CA issued the TRO in favor of SPPC, a San Miguel subsidiary, with a 60-day effectivity from service on the respondents.
"The SPPC filed a petition hoping the CA will grant the rate petition 'without prejudice to any further requests for price adjustments for June 2022 onwards.
"The plea for price increase was denied by the Energy Regulatory Commission since the regulatory body ruled that the agreed price in the PSA is fixed in nature, and the grounds for increase cited by SPPC and Meralco were not among the exceptions that would allow for price adjustment.
"The ERC has expressed concern on the instantaneous effect of the temporary suspension on the implementation of the PSA, which it said, will consequently expose approximately 7.5 million registered Meralco consumers in the National Capital Region and other areas in Central Luzon and Calabarzon to higher electricity prices without preparation usually observed in case of PSA termination."
