ERC to issue ruling on 6 Meralco deals

By Alena Mae S. Flores – February 04, 2020 at 07:10 pm

The Energy Regulatory Commission is set to issue a decision on pending power supply agreements, including six proposals of Manila Electric Co. involving 1,700 megawatts of capacity.

ERC chairperson Agnes Devanadera said the agency had completed the public hearings on the Meralco PSAs and would issue a resolution within the month.

“We are finalizing the resolutions. All of that will come out in February, those that underwent CSP,” Devanadera said.

Meralco sought approval for its PSA with San Miguel Energy Corp., First Gen Hydro Power Corp., South Premiere Power Corp. and Phinma Energy Corp. Meralco has two separate PSAs with SPPC and Phinma Energy.

“At the moment, we cannot as yet determine or confirm whether the proposed rate in the Meralco PSA adverted to was indeed the least cost. But once the subject Meralco PSA application has been filed, the ERC will conduct a thorough evaluation to ensure that the proposed rate in the PSA is the least cost,” said Devanadera earlier.