Based on the previous presentation of Meralco, it said the EPSA offers ranged from P7.80 to P10.21 per kilowatt-hour, higher than what SPPC was asking for about P6.0691 per kWh. READ:
Meralco said this was to ensure supply security in the wake of the Court of Appeals’ issuance of a 60-day temporary restraining order on the Energy Regulatory Commission’s rejection of San Miguel Corp.’s joint petition with the power retailer for a rate increase under a 2019 power supply agreement.
“We have also written the DOE to follow up on our previous letter requesting for CSP exemption of certain emergency PSAs that are ready to be implemented to shield our customers against volatile and potentially higher WESM [Wholesale Electricity Spot Market] price,” the executive said.Meralco is seeking CSP exemption for the one-year PSA for the following generators: SEM Calaca Power Corp. , GNPower Dinginin Ltd. Co. , Masinloc Power Partners Co. Ltd. , SMC Consolidated Power Corp. and SPPC .
The distributor said if it failed to get an approval from the DOE, it would be forced to secure supply from the WESM, the trading floor of electricity where electricity prices were volatile. Meralco and SMC are expected to discuss the impact of the TRO and whether the SPPC would continue to supply or terminate the PSA.
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