While the suspension stays, the Court of Appeals directs Meralco and San Miguel unit South Premiere Power Corporation to negotiate the terms of their supply deal.
MANILA, Philippines – The suspension of the power supply deal between the Manila Electric Company and South Premiere Power Corporation remains in place.The 13th Division of the Court of Appeals granted the petition for a writ of preliminary injunction filed by SPPC, which means the company’s deal to supply 670 megawatts to Meralco from its Ilijan gas-fired power plant is still suspended.
SPPC and Meralco jointly wanted the rate hike, saying that it would be the better alternative instead of sourcing power from the Wholesale Spot Electricity Market, which has higher and more volatile prices. SPPC was ordered to post a bond of P100 million “to answer for any and all damages” the respondents in the case may sustain relative to the court’s ruling.
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