Marcos: Gov't working to stop power rate hike after San Miguel TRO

President Ferdinand "Bongbong" Marcos Jr. said Tuesday that his administration was working at preventing an immediate surge in power prices following the Court of Appeals (CA) decision to temporarily suspend the power supply agreement between San Miguel Corp. subsidiary South Premier Power Corp. (SPPC) and the Manila Electric Company (Meralco).

Marcos hoped that the effect could be felt gradually by the public, especially this holiday season.

"'Yung worry ko lang itong nangyari sa... 'yung TRO na binigay ng CA doon sa [power supply agreement] ng San Miguel at saka Meralco.. 'Yun ang inaano namin ngayon, 'yun ang talagang tinatrabaho namin ngayon, na hindi tumaas ang [power prices], not for this Christmas man lang," Marcos told reporters.

(My worry is the TRO issued by the CA on the PSA between San Miguel subsidiary and Meralco, that's what we are working on right now so that power prices will not increase, especially this Christmas season.)

"If we could postpone, padahan-dahan natin... kung tataas, dahan-dahanin natin ang pagtaas, masyado nang nahihirapan ang tao," Marcos added.

(If we could postpone, let's make it gradual... if rates do go up, let's make it increase gradually. People are having too difficult a time of it.)

Marcos also hoped that the CA would reconsider its action on the matter, noting that the temporary restraining order against the PSA would have an “extremely deleterious effect” on power rates.

The TRO was issued by the CA 14th Division on November 24, following a petition filed by the San Miguel Corp. subsidiary.

The petition stemmed from the Energy Regulatory Commission’s (ERC) decision on September 29 to reject the pleas of SPPC, San Miguel Energy Corp., and Meralco to hike the generation charge. — DVM, GMA Integrated News