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ERC clears Meralco-SMC power supply deal
The Philippine Star
|December 14, 2024
The Energy Regulatory Commission (ERC) approved Manila Electric Co.'s planned purchase of 1,200-megawatt (MW) baseload supply from an energy unit of San Miguel Corp.
The regulator recently cleared the joint application of Meralco and Excellent Energy Resources Inc. (EERI) for their power supply agreement aimed at ensuring continuous, efficient and reliable electric service to the latter's consumers.
EERI emerged as the winning bidder during the government-mandated competitive selection process for Meralco's procurement of baseload power in the next 15 years starting this month.
The applicable rate for the supply contract is P6.0038 per kilowatt hour, which is way lower than EERI's offered rate of P7.1094 per kWh, according to the ERC.
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