Watch Meralco rates, ERC told, as San Miguel quits ’21 supply contract READ MORE:
Co. franchise area following the decision of San Miguel Corp. to terminate its 2021 power supply contracts with the distributor.
SMC has not issued a statement why it decided to withdraw from the PSA as of press time, although sources told the Standard its 2021 Power Supply Agreement with Meralco has not yet been approved by the ERC. Meralco spokesman Joe Zaldarraiga, for his part, assured the power retailer’s tariffs are under stringent review and are only implemented once approved by the ERC.
Gerry Arances, Convenor of the Power for People Coalition, said that as Meralco seeks to hold a rebid, “it now has a chance to ensure genuinely least-cost electricity for consumers.” Meralco said it is studying its options including the possibility of requesting the Department of Energy for approval to conduct another CSP .
“ERC will then review and act on such motions, when filed, after determination of compliance with the law and legal processes. We note that no supply is currently being served yet to Meralco from these PSAs,” she said.
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