Wholesale Electricity Spot Market for the supply months of November and December 2013 to ensure a competitive market environment among power generation companies and to safeguard the interest of the consuming public.
It said the March 3, 2014 order was primarily intended to address the abnormal spiked and unreasonable prices of electricity imposed by gencos during the said period. The ERC had maintained that its order was consistent with its mandate under the Electric Power Industry Reform Act of 2001 to protect the public interest as it is affected by the rates of electric utilities and to ensure transparent and reasonable prices of electricity by not allowing excessive and unreasonable prices of electricity during the period of Malampaya shutdown.
The high court also upheld the order of the ERC approving Manila Electric Company’s request for a staggered collection of automatic rate adjustments arising from generation costs for November 2013. The power firm attributed the abrupt increase in the generation cost to the supposed maintenance shutdown of the Malampaya facility that supplies natural gas to three major power plants—Ilijan, San Lorenzo, and Sta Rita—which supply an aggregate capacity of 2700 MW of electricity to its franchise area.
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