Power Sector Assets and Liabilities Management Corp. elevated a case against San Miguel Corp. to the Court of Appeals in a bid to terminate the 1,200-megawatt Ilijan natural gas power plant independent power producer administrator contract.
SMC Global Power Holdings Corp. deputy corporate information officer Alezander Benhur Simon informed the Philippine Dealing and Exchange Corp. of PSALM’s latest legal move.
SMC Global said PSALM filed a petition for certiorari with the Court of Appeals seeking to annul the orders of the Mandaluyong City regional trial court branch 208 granting the writ of preliminary injunction in favor of South Premiere Power Corp. and against PSALM; and allowing the intervention of Manila Electric Co. and denial of PSALM’s motions for reconsideration.
South Premiere trades the contracted capacity of the Ilijan natural gas plant in Batangas after posting the highest bid of $870 million in 2010. PSALM also prayed for the issuance of a temporary restraining order and/or writ of preliminary injunction “against public respondent RTC and its assailed orders.”
