MANILA – Power producers are appealing the Energy Regulatory Commission's (ERC) decision on last year's controversial price spike after the ERC denied their motion for reconsideration.
The Philippine Independent Power Producers Association (PIPPA) said it has asked the Court of Appeals (CA) to order the ERC to reconsider its decision to void the high spot market prices in November and December last year.
Power producers said they're questioning the process the ERC used to void the rates and the basis for ordering a recomputation of rates.
Earlier this year, the ERC directed the operator of the electricity market to recompute prices based on the average of previous months.
The ERC decision means power producers won't get paid the price they sold power for in November and December.
They've said this will hurt confidence in the market and may turn off investors in power plants. -- ANC