The ERC has ordered the Meralco and two units of San Miguel Global Power Holdings Corp. to not terminate their PSAs until the parties can fully comply with the ERC rules and until the agency has acted on their joint application. Know more:
THE Energy Regulatory Commission has ordered the Manila Electric Company and two units of San Miguel Global Power Holdings Corp. to not terminate their power supply agreements until the parties can fully comply with the ERC rules and until the agency has acted on their joint application.
The longstop date exists in all PSAs. This serves as a security for all power generators. It is a period in which the ERC is supposed to approve or disapprove the application of the distribution utility and the power supplier for the implementation of their PSA. Once the longstop date is over, the power supplier has the right to terminate the PSA by providing a written notice of such termination to the DU. Neither any of them shall be held liable.
“The Commission must emphasize that the urgent manifestation did not contain any prayer for relief from the Commission. Should the applicants seek any specific relief from the commission, they may file a joint motion pursuant to pertinent provisions of the Revised Rules of Practice and Procedure [RRPP] of the commission. Otherwise, the commission shall proceed with its evaluation of the joint application in due course,” the ERC said.
Moreover, the ERC told Meralco, EERI, and MPPCL to be guided by the agency’s RRPP in its consideration of appropriate pleadings that they might want to pursue relative to the notice of termination and joint application.
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