NO BASIS FOR PETITION: ERC rejects rate hike sought by Meralco, SMC power subsidiaries [Inquirer]
The Energy Regulatory Commission (ERC) has denied the joint petition of Manila Electric Co. (Meralco) and listed conglomerate San Miguel Corp. (SMC) for higher power rates. Meralco and electricity suppliers South Premiere Power Corp. (SPPC) and San Miguel Energy Corp. (SMEC), both owned by SMC, earlier filed the petition as a temporary relief measure to cushion the impact of skyrocketing coal and fuel prices caused by the Russia-Ukraine war.