The Manila Electric Company on Wednesday said it is negotiating with power generation companies to fill the 670-megawatt supply it lost after San Miguel’s South Premiere Power Corp. ended their power supply deal.SPPC is ceasing its 670MW power supply agreement
For the meantime, the power distributor said it is sourcing the supply covered by the PSA from the Wholesale Electricity Spot Market . “Our priority is to ensure continuity of stable, reliable, and adequate supply for all our customers. We are exhausting all efforts to mitigate any impact of these developments on our customers’ electric bills,” Meralco said.
Based on ERC records of Meralco billings for November 2022, the 670MW SPPC PSA accounted for 13.4% of the power distributor’s supply and priced at P4.245 per kilowatt-hour .The ERC chief said the cessation of supply from a bilateral contract does not excuse the distribution utility from its obligation under Section 23 of Republic Act No. 9136 or Electric Power Industry Reform Act “to supply electricity in the least cost manner to its captive market.
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