Meralco asks SC to lift injunction on rate hike

The Manila Electric Company (Meralco) asked the Supreme Court (SC) on Tuesday, February 4, to lift the temporary restraining order (TRO) on a power rate increase it was supposed to implement in December. The power distributor also questioned whether the SC was the appropriate body to arbitrate on the power rate hike issue. Meralco was set to increase the power rate to P4.15 per kw/hr in December, the highest in history. It claimed it was forced to purchase power at a higher price from the Wholesale Electricity Spot Market (WESM). But petitioners asked the SC to issue a TRO on the price hike, alleging collusion between the Energy Regulatory Commission (ERC) and the power suppliers. Merlaco’s lawyers said that the petitioners should raise their concerns with the appropriate regulatory agency or Congress, and not the SC.

Read the full story on Rappler.