San Miguel Global Power (SMGP) welcomed the decision of the Court of Appeals (CA), which invalidated the order of the Energy Regulatory Commission that rejected its petition for a rate hike.
SMGP hailed the CA ruling as a reaffirmation of the fundamental principle of due process, ensuring fair treatment by quasi-judificial bodies.
In an official statement, SMGP emphasized that the CA’s decision establishes a regulatory environment that is both fair and balanced, safeguarding the rights and interests of all stakeholders involved. The company asserted its belief that such a framework is essential for fostering growth, innovation, and sustainability within the power industry of the country.
SMGP expressed regret over the ERC’s initial unfair decision to dismiss its joint petition with Meralco for a temporary rate hike. Despite the fact that this option was proven to be the least costly for power consumers at the time, the burden of significantly higher electricity rates was shouldered by consumers.
The company lamented the adverse impact of this decision on consumers and highlighted the importance of preventing such consequences in the future.
While addressing the ongoing power crisis faced by the nation, SMGP assured its commitment to seeking solutions that alleviate the impact of the crisis while also ensuring the continuity of operations and meeting the evolving power needs of the country.
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