ERC OKs Proposed PSA Rates of SMGP, ACEN Units

The Energy Regulatory Commission has upheld the proposed power supply rates of San Miguel Global Power (SMGP) and ACEN Corp.'s subsidiaries for their contracts with Manila Electric Co. (Meralco).

- By Brix Lelis

ERC chairman and CEO Francis Saturnino Juan told reporters that SMGP's San Roque Hydropower Inc. (SRHI) and ACEN's Gigasol3 Inc. already secured final approval for their power supply agreements (PSAs) with Meralco.

"Since we have already come up with the decision and promulgated it (on Wednesday), it's now up to the parties to schedule when the delivery will commence," Juan said on the sidelines of an energy forum hosted by the Economic Journalists Association of the Philippines at the Securities and Exchange Commission.