DOE urges SC to rule on Meralco hike plea

MANILA, Philippines - The Department of Energy (DOE) on Wednesday said it is hoping that the Supreme Court will finally decide on the power rate adjustment being sought by the Manila Electric Company (Meralco).

At the same time, the DOE said it welcomes the High Court's decision to indefinitely extend the temporary restraining order (TRO) on Meralco's power rate increase in its December 2013 billing.

"We respect the Supreme Court’s decision, yet we are hoping for the final decision on the matter...Generation companies (gencos) ensure the Department to continue producing electricity despite the TRO," Energy Secretary Carlos Jericho Petilla said in a statement.

The High Tribunal first issued a 60-day TRO on Dec. 23, 2013 and extended it for another 60 days on February 23. The second TRO lapsed Tuesday.

Meanwhile, the Energy Regulatory Commission ordered the Philippine Electricity Market Corporation to void the initial price bids in the Wholesale Electricity Spot Market for Luzon during the November and December 2013 supply months and has imposed regulated prices.

Petilla also said that the power situation this summer "is now stable."

"We have enough supply and we are not foreseeing yellow alert given that there is no unplanned shutdown that will occur. The DOE, however, is readying mitigating measures in case of supply shortfall," he said.