FDC Misamis Power Corp. filed a petition with the Energy Regulatory Commission to recover from Mindanao consumers P1.476 billion following the suspension of the Interim Mindanao Electricity Spot Market.
FDC Misamis filed a petition for recovery of unaccounted energy against the Independent Electricity Market Operator and the Philippine Electricity Market Corp.
PEMC was the operator of Wholesale Electricity Spot Market, the country’s trading floor for electricity before it was turned over to IEMOP.
FDC Misamis, in its petition, wanted IEMOP as the IMEM operator to recover on behalf of the company as the independent power producer administrator of Mr. Apo 1 and Mt. Apo 2 geothermal power plants and the owner of the 2,700-megawatt Mindanao coal plant, the payment for electricity consumed by electric distribution utilities and end-users in Mindanao in February 2014.