SAN Miguel Corp. (SMC) said Tuesday that the Supreme Court had officially dismissed the Energy Regulatory Commission's (ERC) motion for reconsideration regarding a high court ruling overturning the regulator's decision to deny the rate hike petition of San Miguel Global Power Holdings Corp.'s business units.
In a disclosure, SMC said that it had received from the legal counsels of South Premiere Power Corp. (SPPC) and San Miguel Energy Corp. (now Sual Power Inc. or SPI) a copy of a First Division resolution denying, with finality, the ERC's motion for reconsideration of an August 3 Supreme Court ruling as well its prayer for the issuance of a temporary restraining order (TRO) and/or writ of preliminary injunction to stop the firms from terminating their 1,000-megawatt (MW) 10-year power supply agreements (PSAs) with Manila Electric Co. (Meralco).
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