SMC, through South Premiere Power Corp. and San Miguel Energy Corp., administrators of the 1,200-megawatt Ilijan natural gas and 1,200-MW Sual coal-fired power plants, along with Meralco, filed their respective petitions for a temporary rate hike-- READ:
SMC, through South Premiere Power Corp. and San Miguel Energy Corp., administrators of the 1,200-megawatt Ilijan natural gas and 1,200-MW Sual coal-fired power plants, along with Meralco, filed their respective petitions for a temporary rate hike of P0.30 per kilowatt-hour over six months.
Dimalanta said the commission would come out with its decision before Oct. 4, the date indicated by SMC in its letter to Meralco seeking to terminate the supply deals.Dimalanta assured a “fair and transparent” evaluation of SMC and Meralco’s application for temporary relief on the supply agreements. Meralco warned that consumers would be burdened by as much as P25.8 billion if it was forced to secure new PSAs to replace those of SMC.
Meralco said it might be forced to immediately procure power from the Wholesale Electricity Spot Market if the PSAs were terminated, or the petitions of SMC would not be approved by Oct. 4.
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