Meralco in talks with SMC unit for power supply deal | Lenie Lectura

The Manila Electric Co. and South Premiere Power Corp. are negotiating for a 330-megawatt emergency power supply agreement , the only offer received by the power distribution utility firm after sending a request for proposal to several suppliers.

“We reported earlier that the 330 MW that is being supplied by Sual power plant was already terminated effective midnight of July 24, after they sent a notice of termination last July 17. We immediately looked for a replacement capacity from different power suppliers and we’ve written several power suppliers. Only one responded, that is San Miguel.

Meralco requested SPI to allow it a reasonable period, not earlier than August 25, to look for replacement emergency power supply to protect its customers from exposure to volatile prices at the Wholesale Electricity Spot Market.Meanwhile, Valles said the utility firm will proceed to conduct a competitive auction for 1800MW of capacity as soon as the ERC allows the units of San Miguel Global Power to terminate their PSAs with Meralco.

The PSA between Meralco and Excellent Energy Resources Inc. involving 1,200MW of gas-generated capacity starting December 2024 and another PSA between Meralco and Masinloc Power Partners Co. Ltd. involving 600MW of capacity for delivery starting May 2025 were terminated on the ground that the longstop dates lapsed on September 23, 2021 and September 17, 2021, respectively.

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