MANILA - The Court of Appeals 16th Division has denied the petition for a temporary restraining order of the San Miguel Energy Corporation (SMEC) against the implementation of the Energy Regulatory Commission's denial of the former's motion for price adjustment.
In a statement, the ERC said the CA decided against SMEC's petition because it failed to prove its right to a restraining order.
"ERC's denial of SMEC's Motion for Price Adjustment already preserves the status quo- which is the contract price in SMEC and Meralco's Power Supply Agreement," ERC said in a statement.
The case stemmed from ERC's denial of SMEC and Meralco's motion for price adjustment in their contract.
ERC Chairperson Monalisa Dimalanta said the CA's decision will help ensure low costs of energy supply from SMEC.
"Malaking tulong ito para masiguro natin ang mababang presyo ng supply sa Meralco mula sa SMEC, lalo na nitong parating na mga buwan," she said.
ERC, Energy Regulatory Commission, CA, Court of Appeals, SMEC, San Miguel Energy Corporation, ANC, ANC promo