SAN Miguel Corp. (SMC) said Tuesday that the Supreme Court had officially dismissed the Energy Regulatory Commission's (ERC) motion for reconsideration regarding a high court ruling overturning the regulator's decision to deny the rate hike petition of San Miguel Global Power Holdings Corp.'s business units.
SAN Miguel Corp. said Tuesday that the Supreme Court had officially dismissed the Energy Regulatory Commission's motion for reconsideration regarding a high court ruling overturning the regulator's decision to deny the rate hike petition of San Miguel Global Power Holdings Corp.'s business units.In a disclosure, SMC said that it had received from the legal counsels of South Premiere Power Corp. and San Miguel Energy Corp.
'Accordingly, the prayer for issuance of a TRO and/or a writ of preliminary injunction is denied due to lack of merit. No further pleadings, motions, letters or other communications shall be entertained herein.'On Oct. 12, 2019, SPPC and SPI asked the ERC to issue a provisional authority for the PSAs, covering 670 MW for the former and 330 MW for the latter. The firms had been declared winners in a competitive selection process conducted by Meralco in September that year.
Junks ERC Appeal Of San Miguel Ruling
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