WE agree with the view of President Ferdinand Marcos Jr. and Energy Secretary Raphael Lotilla that the recent Court of Appeals issuance of a temporary restraining order against the Energy Regulatory Commission's ruling on the rate hike petition by San Miguel Global Power was a mistake that will burden hard-pressed consumers, and should be reversed.Last September 29, the ERC denied a joint petition by the San Miguel Corp. power unit and Manila Electric Co.
President Marcos' reaction was to express polite criticism of the CA, calling on the court to reconsider the 'unfortunate' decision, noting that it would impose higher energy costs on consumers already contending with higher prices for most basic goods and services.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: