It said in a decision dated March 8, 2023 but released on Aug. 29 it approved the joint motion for contract price adjustment filed by Meralco and PEDC and the joint motion for power supply agreement termination.
The parties filed the price adjustment motion on Jan. 20, 2022, citing the “change in circumstance” provisions in their PSA. Meanwhile, the majority of the commission, in granting the termination motion, also found that there was basis to end the PSA on the basis of mutual agreement of the parties. Dimalanta said in a separate opinion that by filing the termination motion before the commission decided on the price adjustment motion, the parties were deemed to have abandoned their request for price adjustment and, hence, it could no longer be acted upon by the commission.
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