SMC Global Power Holdings Corp. confirmed the CA decision in a disclosure to the stock exchange Friday involving the case filed by power unit South Premiere Power Corp. for the 1,200-megawatt Ilijan combined cycle power plant in Batangas province. READ:
of San Miguel Corp.’s joint petition with Manila Electric Co. for a rate increase under their 2019 power supply agreement.
Associate Justice Mary Charlene Hernandez-Azura signed the decision which was concurred by Associate Justices Victoria Isabel Paredes and Florencio Mamauag Jr. on Nov. 23. SPPC incurred losses of P1.04 billion from January to April and was anticipating P1.5 billion losses in May. The ERC said in a statement it denied the plea for a price increase as the agreed price in the PSA was fixed in nature, and the grounds for the increase cited by SPPC and Meralco were not among the exceptions that would allow for price adjustment.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
CA grants SMC power arm’s plea to suspend its PSA with Meralco - BusinessMirrorTHE Fourteenth Division of the Court of Appeals (CA) issued a Temporary Restraining Order (TRO) in favor of South Premiere Power Corporation (SPPC), a subsidiary of SMC Global Power Holdings Corp. (SMCGP), suspending the implementation of its power supply agreement (PSA) with Manila Electric Company (Meralco). “(SMC) and SMCGP received this afternoon…a copy of the
Read more »
SMC power unit wins 60-day TRO from CAThe Court of Appeals has granted the temporary restraining order sought by conglomerate San Miguel Corp. which, in effect, will temporarily halt the implementation of its power supply deal with Meralco. | jordeenelagare /PDI
Read more »
SMC-Meralco rate hike wins TROThe P0.30 per kWh joint rate hike application of Meralco and SMCGP scored initial victory with the 60-day temporary restraining order (TRO) issued by the CA on the verdict handed down by the Energy Regulatory Commission (ERC) on October 4 this year.
Read more »
Casecnan hydro pre-bid meet draws 13 potential buyers - BusinessWorld OnlineThe Power Sector Assets and Liabilities Management Corp. (PSALM) said 13 potential bidders attended the pre-bid conference for the auction of the Casecnan hydroelectric power plant in Nueva Ecija.
Read more »
Ukraine struggles to restore power in 9-month war's first winterSince early October, Russia has launched missiles roughly once a week in a bid to destroy the Ukrainian power grid.
Read more »
Loona's Chuu expelled from K-pop group over 'violent language and misuse of power' toward staffLoona's Chuu has been removed from the K-pop girl group. READ:
Read more »