BusinessWorld E-paper
November 28, 2022
PRESIDENT Ferdinand R. Marcos, Jr. is hoping the Court of Appeals (CA) will reconsider its decision temporarily suspending the implementation of an SMC Global Power Holdings Corp. subsidiary’s power supply agreement (PSA) with Manila Electric Co. (Meralco), warning this may result in higher electricity rates.
At the same time, Meralco said it is exploring options after the CA granted a temporary restraining order (TRO) sought by SMC Global Power to halt the implementation of unit South Premiere Power Corp.’s (SPPC) PSA with Meralco. The TRO will be effective for 60 days.
