Meralco in talks with Aboitiz, SMC for 670-MW emergency supply deal READ MORE:
Power retailer Manila Electric Co. said Monday it is finalizing a one-year 670-megawatt emergency power supply agreement with Aboitiz Power Corp. and San Miguel Corp. to replace its 2019 power supply agreements which were subjected to a writ of preliminary injunction by the Court of Appeals.
He said SMC would supply Meralco 370 MW from its coal plants for two months, then shift to liquefied natural gas once available. GNPower will supply 300 MW from its 1,336-MW coal plant in Mariveles, Bataan.Meralco previously executed a second EPSA with GNPower Dinginin for 300 MW of baseload capacity covering the period Feb. 3 to Feb. 25, 2023 for P8.5250 per kWh. This was higher than the first EPSA which carried a fixed price of P5.95 per kilowatt-hour in January.
This prompted the distributor to look for other suppliers or tap the Wholesale Electricity Spot Market or the trading floor of electricity. Meanwhile, Valles said Meralco was studying its options regarding the decision of SMC to terminate its 2021 power supply contracts.
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