Higher power rates ahead: Meralco to source from WESM after Aboitiz supply contract ends

Manila Electric Co. (Meralco) warned that starting January 26 it could source from the Wholesale Electricity Spot Market (WESM) the 670-MW capacity covered by its power supply agreement (PSA) with South Premiere Power Corp. (SPPC) that was subjected to a Court of Appeals-issued temporary restraining order.

Meralco said the contract capacity of SPPC was partially replaced by Meralco’s 300-MW emergency PSA with GNPower Dinginin Ltd. (GNPD), which expired on January 25.

The power distributor has requested GNPD to extend the term of the EPSA but no extension was agreed upon as of press time.

“Meralco is closely working with the Department of Energy and all relevant industry players to ensure adequate supply and protect its customers from volatile and higher WESM prices,” the power utility giant said.

As early as December last year, Meralco said it started the competitive selection process (CSP) for an additional 480-MW supply starting next month.

“Meralco assures its customers that it exhausts all measures to continue delivering stable and reliable electricity at the least cost under the current circumstances,” 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.

CA thumbs down SMC unit’s TRO plea vs ERC order

The Court of Appeals (CA) has denied the petition filed by San Miguel Corp. to nullify the Energy Regulatory Commission’s order rejecting the power rate hike sought by its power subsidiaries and Manila Electric Co. (Meralco).

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