CA suspends SPPC-Meralco power supply deal READ MORE:
Corp. stopping Manila Electric Co. from implementing the order of the Energy Regulatory Commission to honor their fixed-rate power supply agreement signed in 2019.
The CA said the injunction is an ancillary remedy sought by SPPC in its petition for certiorari to question the ERC order denying its joint motion with Meralco for a price adjustment dated May 10, 2022. The CA said SPPC was forced to sell on a negative margin, which produces an “untenable situation because the more the petitioner sells, its business losses become greater.”
It said the issuance of the writ is urgent because the petitioner would be forced to cease operations altogether. SPPC said it could only remain in business for the next 10 months if the effectivity of the PSA would not be suspended.
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