Meralco has secured supply deals with Aboitiz-led GNPower Dinginin Ltd. Co. and San Miguel Global Power Holdings Corp. for 670 megawatts of electricity for one year, according to an executive of the power utility firm. | MegINQ /PDI
Under the Epsas, GNPD will supply 370 MW while San Miguel will provide the remaining 300 MW.
“We secured a certificate of exemption from the Department of Energy to implement [the Epsas] immediately,” Valles said on the sidelines of the Philippine Electric Power Industry Forum on Monday.Its liquefied natural gas plant will take over the remaining 10 months of the deal as part of its commitment to the DOE to begin LNG terminal operations in May, according to Valles.
To recall, Meralco sought new partners for the supply deal after GNPD initially proposed a higher rate. The power utility firm first entered an agreement with GNPD, a private limited partnership with Aboitiz Power Corp.’s Therma Power Inc. and the Ayala-led AC Energy Holdings Corp., in December to provide 300 MW until Jan. 25.Subscribe to our daily newsletter
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