PEMC seeks SC help to reverse decision on ThermaMobile

The country’s electricity spot market asked the Supreme Court to reverse the Court of Appeals’ decision to stop collecting penalties from Aboitiz unit Therma Mobile Inc (TMO).

Aboitiz Power Corp. disclosed that the Philippine Electricity Market Corporation (PEMC) has filed a petition for Review on Certiorari with the SC Second Division, pursuing the reverse of the CA – Special Fifth Division’s decision that was in favor of TMO.

In 2015, TMO was fined P234.9 million by the PEMC for withholding capacity from the Wholesale Electricty Stock Market (WESM), which allegedly cased the P4.16 per kilowatt hour increase by Manila Electric Co. (Meralco) in December 2013.

The Regional Trial Court in Pasay prevented PEMC from collecting the financial fine and charge interest, after TMO sought legal relief in Branch 157. A writ of preliminary injunction on April 1 stopped PEMC from collecting such fines.

The PEMC sought for the higher court after their appellate court denied their motion for reconsideration on the issue last April 22.

“A copy of the petition was received by TMO through its counsel on July 13, 2016. TMO is still awaiting orders from the Supreme Court relative to the filed petition,” AboitizPower said.

PEMC operates the WESM, which is the trading floor where electricity is bought and sold.

It requires generation companies registered in the WESM to declare and offer the maximum generating capacities of their plants in the spot market and is aimed at preventing power plants from withholding energy and pushing prices upward.