LATE last week the Energy Regulatory Commission (ERC) announced it had rejected 11 applications for approval of power supply agreements (PSAs) between electricity generating companies and electric distributors. It was a minor story for that day but it has a number of important long-term implications.
The rejected applications were for ERC approval of negotiated PSAs between electric cooperatives in various parts of the country and a handful of power generating companies, such as Ayala’s GN Power, Alsons’ Western Mindanao Power Corp., the Lopez Group’s Energy Development Corp., and San Miguel’s two power generation concerns, San Miguel Consolidated Power Corp. and San Miguel Energy Corp. The reason for the ERC’s disapproval was pure technicality – they were legally defective, ERC chair and CEO Jose Vicente Salazar explained, because they did not present the required Verification and Certification of Non-Forum Shopping.
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