Meralco buys more expensive power from Aboitiz-Ayala Group

Manila Electric Co. (Meralco) executed an emergency power supply agreement (EPSA) with Aboitiz Group’s GNPower Dinginin Ltd. for 300-MW baseload capacity effective today until January 25, 2023 at P5.96 per kWh.

The EPSA is still higher than the P4.30 per kWh offer of San Miguel Corp. under its fixed contract and still higher than what SMC asked the Energy Regulatory Commission for a temporary rate hike.

Meanwhile, WESM prices average P8 to P8.50 per kWh and hit P9.12 per kWh as of Dec. 11.

Meralco said GNPower would partially replace the 670 MW capacity under Meralco’s power supply agreement with South Premiere Power Corporation (SPPC), which was subjected to a temporary restraining order (TRO) issued by the Court of Appeals.

The EPSA will lessen Meralco’s exposure to the Wholesale Electricity Spot Market (WESM) and, in turn, partly shield its customers from volatile and potentially higher generation costs.

Meralco exhausts all measures to continue supplying its customers with sufficient and reliable power while mitigating the impact of the TRO on its customers,” it said.

Samat  cleared to start LNG project in Bataan

Samat LNG Corp. has received the greenlight from the Department of Energy to start the development of a small-scale liquefied natural gas (LNG) receiving terminal and regasification facility in Brgy. Sisiman, Mariveles, Bataan.

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