MERALCO Files PSAs with ERC

Manila Electric Company (Meralco, PSE: MER) filed with the Energy Regulatory Commission (ERC) joint applications for the approval of power supply agreements (PSAs) between Meralco and the following generation companies:

1. Millennium Energy Inc. (MEI) for the purchase of 70MW of electric power, subject to a net dependable capacity test in accordance with the IPSA, from 26 April 2019 until 25 June 2019, from the 1 x 100MW Gas-Turbine Power Plant, also known as the Millennium Gas Turbine Power Plant, located in Navotas Fishport Complex, Navotas City.

2. Therma Mobile Inc. (TMO) for the purchase of up to 200,000kW Contract Capacity and Associated Energy, subject to restatement based on the results of capacity test, from 26 April 2019 to 25 April 2020, from the 242 MW-installed capacity, barge-mounted, bunker-fired diesel power generating and interconnection facilities in Navotas City owned, operated and maintained by TMO.

Meralco also received the Department of Energy’s grant of exemption from the requirement for competitive selection process.

With such filing of the joint applications and receipt of exemption, the mutual obligations to sell and purchase power under said agreements shall be implemented beginning 26 April 2019.

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