by Alena Mae S. Flores – July 15, 2016 at 11:10 pm
from Manila Standard Today
Philippine Electricity Market Corp. appealed with the Supreme Court a Court of Appeals decision rejecting its bid to collect P234.9 million in penalties from Aboitiz Power Corp. subsidiary Therma Mobile Inc.
PEMC imposed the fine against Therma Mobile for alleged anti-competitive behavior during the November to December 2013 Malampaya shutdown, which pushed up power rates. PEMC, however, failed to collect the fine after Therma Mobile raised the issue to the Pasig City Regional Trial Court Branch 157.
The RTC Pasig City Branch 157 on April 1, 2015, issued a writ of preliminary injunction in favor of the Aboitiz Group.
The Pasig RTC prevented PEMC from demanding or collecting the amount of P234.9 million in financial penalties.
The court also ruled that an arbitration agreement existed between Therma Mobile and PEMC, and directed the parties to comply and continue with the dispute resolution process under therules of the wholesale electricity Spot Market.