Meralco deal with SMC, ACEN OKd

The Energy Regulatory Commission (ERC) has given power distributor Manila Electric Co. (Meralco) the go-signal to procure new mid-merit supply from the generation facilities operated by the San Miguel Group and the Zobel family's ACEN Corp.

- BRIX LELIS

The regulator has granted provisional authority to Meralco, San Miguel-led San Roque Hydropower Inc. (SRHI) and ACEN's Gigasol3 Inc. for their respective power supply agreements (PSAs).

SRHI and Gigasol3, along with another ACEN unit, Santa Cruz Solar Energy Inc. (SCSEI), emerged as the winning bidders during Meralco's competitive selection process (CSP) for its renewable energy (RE) supply.

The CSP involves a 10-year PSA for Meralco's 350-megawatt mid-merit requirement starting February next year that will increase by 150 MW by February 2026.

SRHI offered the lowest total headline rate of P7.10 per kilowatt-hour (kWh) for 340 MW of the total requirement.