This was after the Supreme Court's First Division denied the the energy regulator’s appeal with finality, ruling in favor of San Miguel subsidiaries South Premiere Power Corp. and San Miguel Energy Corp. (now Sual Power Inc.).
The decision, dated July 10, 2024, was communicated to San Miguel through their legal counsel on Sept. 2, 2024.
The Supreme Court's resolution upheld its earlier ruling on Aug. 3, 2024, which rejected the ERC’s petition for the court to stop San Miguel and Manila Electric Co. from rescinding a 10-year fixed-price power supply deal.
San Miguel argued that the unforeseen war in Ukraine caused by Russia’s invasion was costing it billions of pesos in losses, and qualified as a “change in circumstance” which allowed for the termination of the supply deal, a point which Meralco agreed on.
In junking the most recent appeal with finality, San Miguel said the Supreme Court found no substantial argument to modify its previous decision.
This ruling brings to conclusion the long-standing legal dispute involving the ERC on one side, and San Miguel, Meralco and the National Association of Electricity Consumers for Reforms Inc. on the other.
With this final judgment, the Supreme Court ordered that no further pleadings, motions, or communications related to the case would be entertained.
