Meralco assures uninterrupted power supply with 670 MW deal with SMC, Aboitiz unit

Manila Electric Co. (Meralco) has secured an emergency power supply agreement (EPSA) for a combined 670 megawatts of electricity from San Miguel Corp. and Aboitiz-led GNPower Dinginin starting March 26.

The EPSA will last for one year, and the agreement was finalized after the company received a certificate of exemption from the Department of Energy.

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EPSA rates average at P7.80 per kilowatt hour with a pass-through fuel cost, which is lower than the previous contract with GN Power in February.

Meralco has been trying to secure sufficient supply and manage its rates after the cessation of its 670-MW supply contract with SMC-owned South Premiere Power Corp. (SPPC), which was subjected to a writ of preliminary injunction (WPI) issued by the Court of Appeals.

Since SPPC stopped supplying the contracted capacity of 670 MW starting December 7, 2022, Meralco had to source from the Wholesale Electricity Spot Market.

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