President Ferdinand “Bongbong” Marcos Jr. expressed hope that the Court of Appeals will reconsider its move to temporarily suspend the power supply agreement between San Miguel Corp. subsidiary South Premier Power Corp. and the Manila Electric Company.
President Ferdinand “Bongbong” Marcos Jr. expressed hope that the Court of Appeals will reconsider its move to temporarily suspend the power supply agreement between San Miguel Corp. subsidiary South Premier Power Corp. and the Manila Electric Company .
“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,” Marcos said. However, SPCC said that the ERC acted with grave abuse of discretion in denying its rate increase petition when it interpreted the rights of SPPC and Meralco under the PSA.
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