President Ferdinand “Bongbong” Marcos Jr. is hoping that the Court of Appeals will reconsider its issuance of a Temporary Restraining Order , suspending the implementation of the South Premier Power Corp. Power Supply Agreement with the Manila Electric Co. .Marcos said this after the CA’s Fourteenth Division issued the TRO in favor of SPPC, a San Miguel subsidiary, with a 60-day effectivity from service on the respondents.
“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, noting the TRO is against the PSA. 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.”
It furthered that the grounds for the increase cited by SPPC and Meralco were not among the exceptions that would allow for price adjustment.
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