PBBM HOPES CA WILL RECONSIDER TRO ON SMC POWER RATE PETITION
Dateline Kamuning President Ferdinand R. Marcos Jr. hopes the Court of Appeals (CA) will reconsider its issuance of a Temporary Restraining Order (TRO) suspending the implementation of the South Premier Power Corp. (SPPC) Power Supply Agreement (PSA) with the Manila Electric Co. (Meralco). “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,” President Marcos said over the weekend, noting the TRO is against the PSA. “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, ” Marcos said. The Fourteenth 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 ...