ECCP concerned over Supreme Court decision on Angat plant

MANILA, Philippines - European businessmen are concerned about the Supreme Court decision stopping the Power Sector Assets and Liabilities Management Corp. from awarding the Angat hydroelectric power complex to Korean Water Resources Corp. (K-Water).

“We are watching with concern that the Supreme Court stopped the PSALM (Power Sector Assets and Liabilities Management Corp.) from awarding the Angat hydroelectric power complex to Korea Water Resources Corp.,” the European Chamber of Commerce of the Philippines (ECCP) said in a statement posted at its website.

K-Water won the bid to operate the Angat facility last April 28 by submitting the highest offer of $440.8 million.

A number of civil society groups and lawmakers filed a petition with the Supreme Court to stop PSALM from awarding the hydro facility to K-Water.

The petitioners argued that PSALM acted with grave abuse of discretion when it conducted the bidding of the Angat power plant in “secrecy and in disregard of the people’s right to information, right to water and in violation of its mandate and the Constitution.”

They sought SC’s intervention to permanently stop PSALM from disposing of the Angat plant, nullify the bidding process and issue a preliminary injunction and/or temporary restraining order.

Petitioners were Edgardo Ligon of the Initiatives for Dialogue and Empowerment through Alternative Legal Services, Inc., Rebecca Malay of the Freedom from Debt Coalition, Loretta Ann Rosales of the Akbayan Citizen’s Action Party, Daniel L. Edralin of the Alliance of Progressive Labor and, Akbayan Rep. Walden Bello.

Chief Justice Reynato Corona then issued a status quo ante order last May 24 in response to the petitions filed and asked the respondents to submit their comments.

“This is at least the third time that foreign investors who were qualified as bidders and won the bidding have been disqualified by government action. The other two were Manila Hotel and Camago Oil Leg,” the ECCP noted.