THE Supreme Court decision on Tuesday lifting a nearly decade-old injunction against a P22.64-billion rate hike sought by the Manila Electric Co. was a travesty, a shameful demonstration that presents the appearance of a willingness on the part of the high court to turn a blind eye to consumer welfare in order to accommodate rent-seeking business interests.
However, it was discovered at about the same time that one of Meralco's electricity suppliers, Therma Mobile, had manipulated the wholesale cost of electricity in the spot market, something for which Therma Mobile was subsequently fined P234.9 million by the market operator. That fine is currently on hold, as the case is now before the Court of Appeals.
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