SMC units to appeal PSA ruling

FIRMS under the power arm of listed conglomerate San Miguel Corp. (SMC) will file a motion for reconsideration on the Supreme Court’s recent decision to subject all power-supply agreements (PSAs) made in end-June 2015 onward to public bidding.

In a disclosure to the Philippine Dealing and Exchange Corp. on Wednesday, SMC Global Power Holdings Corp. said its wholly owned subsidiaries Mariveles Power Generation Corp. and Central Luzon Premiere Power Corp. would file the motion “within the given reglementary period.”