The Philippine Supreme Court dismisses ERC's appeal on San Miguel Corp.'s power unit termination.
The Supreme Court of the Philippines has definitively dismissed the Energy Regulatory Commission's (ERC) appeal regarding a ruling that allows San Miguel Corp.'s power units to terminate their power supply agreements with Manila Electric Co. (Meralco). This decision upholds the court's previous ruling that denied the ERC's denial of a rate hike petition and prevents the ERC from imposing a temporary restraining order. SMC reported significant financial losses in relation to these contracts.
September 03, 2024
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