MANILA Electric Co. (Meralco) has secured another 300-megawatt (MW) emergency power supply to partly cover its 670-MW deal with a unit of SMC Global Power Holdings Corp. that remains suspended. READ:
MANILA Electric Co. has secured another 300-megawatt emergency power supply to partly cover its 670-MW deal with a unit of SMC Global Power Holdings Corp. that remains suspended.
“Following the expiration of its contract with GNPD, Meralco executed another EPSA with the generation company for the supply of 300-MW baseload capacity,” Meralco said in a separate statement.“The EPSA lessens Meralco’s exposure to the Wholesale Electricity Spot Market and in turn, shields its customers from volatile and potentially higher generation costs,” the power distributor said.
Last year, SMC Global Power sought a temporary rate increase, jointly filed with Meralco, saying that SPPC and another unit San Miguel Energy Corp. incurred a combined loss of P15 billion. The rate increase was meant to recover part or P5 billion of the units’ losses. Meanwhile, Meralco said the overall rate for a typical household decreased by P0.0106 per kWh to P10.8895 per kWh in February, from P10.9001 per kWh in January due to a lower generation charge.
The power distributor said the generation charge went down by P0.2137 to P6.9154 per kWh from P7.1291 per kWh a month ago due to lower costs from WESM and independent power producers .
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