SC ruling on Naga plant ‘grossly disadvantageous’ to government – SPC

LISTED SPC Power Corp. on Wednesday called the recent ruling of the Supreme Court (SC) on the Naga Power Plant Complex in Cebu as “grossly disadvantageous to the government.”

The energy firm is preparing its motion for reconsideration to the SC which reiterates SPC’s position that the decision “destabilizes the investment climate in the Philippines and retroactively changes the rules on competitive bidding.”