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    Posted April 22, 2014 by
    omeroscar
    Location
    Manila

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    Phl court stops power rate hike

     
    VOTING 10-4, the Philippine Supreme Court (SC) on Tuesday issued an indefinite temporary restraining order (TRO) against the P4.15 per kilowatthour (KWH) rate increase of the Manila Electric Company (Meralco).
    Aside from the big time power rate hike of Meralco, the court also stopped the generating companies from demanding and collecting the deferred amounts representing the affected costs based on the matters raised in Meralco's Dec. 5, 2013 letter.
    Likewise, the high court stopped the Philippine Electricity Market Corporation (PEMC) from demanding and collecting the deferred amounts representing the affected costs based on the matters raised in Meralco's Dec. 5, 2013 letter.
    Covered by the indefinite TRO are the Masinloc Power Partners Co., Ltd., c/o AES Philippines, San Miguel Energy Corporation, South Premiere Power Corp., First Gas Power Corporation, and the National Grid Corporation of the Philippines (NGCP).
    The indefinite TRO was effective immediately and until further orders from the high court.
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