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Tuesday, February 18, 2014

Supreme Court Extends TRO on Power Rate Hike

 Supreme Court (SC) on Tuesday extended the Temporary Restraining Order on Merlaco's proposed power rate hike for 60 days more. SC information Chief Te announced that the high court grant the petition filed by party-list lawmakers seeking to extend the TRO for 60 days before it expires next week. With the extension, Meralco can't impose it's Php 4.15 per Kilowatt rate increase until Apr. 22, 2014. Moreover the high court also imposed a TRO on the power generation companies from demanding and collecting unsettled payments from Meralco which was affected by the TRO on rate increase. The newly imposed TRO will be effective until Apr. 22, 2014. These include Masinloc Power Partners Corporation, San Miguel Energy Corp. , South Premier Power Corp., First Gas Power Corp. and the National Grid Corporation of the Philippines. The petition extend the TRO on Meralco rate hike was filed by the Bayan Muna Rep. Colmenares and Rep. Zarate, Gabriela Women's Partylist Rep. Ilagan and Rep. De Jesus, ACT Teachers Rep. Tinio, and Kabataan Rep. Ridon. The power rate hike which was approved the Electricity Regulatory Commission (ERC) has drew condemnation from several groups and organization over the alleged collision of Meralco with other power generating companies to increase the generation cost up to Php 4.15 the highest generation rate hike in Meralco's history.   
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