by Myrna Velasco – May 3, 2016
from Manila Bulletin
Power utility giant Manila Electric Company (Meralco) is seeking the approval of the Energy Regulatory Commission (ERC) on its newly inked seven power supply agreements for 3,551 megawatts (MW) aggregate capacity.
This comes with striking prominence on a 1,200MW contracted capacity from a subsidiary’s yet-to-be developed Atimonan One Energy, Inc. coal-fired power plant in Quezon province, as well as with other affiliate firms.
The application filing for the new seven power supply deals came on the heels of the prescribed April 30, 2016 extended deadline on the mandate for competitive selection process (CSP) on power contracting for distribution utilities.
These corresponding power supply deals will be effective upon the approval of the industry regulator, the utility firm has indicated.
The other contracted capacity of Meralco had been the 225MW output of the Redondo Peninsula Energy, Inc. , a project development in Subic majority-owned by subsidiary Meralco PowerGen.
Meralco also sealed a supply pact for 400MW capacity of the St. Raphael Power Generation Corporation, its power generation arm’s newly sealed joint venture with the Consunji-led Semirara Mining and Power Corporation and that of Marubeni Corporation.
The utility firm further secured power supply contract of 528MW capacity from the Central Luzon Premiere Power Corporation, another coal-fired power project in Pagbilao, Quezon. According to the utility firm, that facility will be operational not later than year 2021.
The other supply agreement inked by Meralco had been with Mariveles Power Generation Corporation “for the purchase of up to 528MW of electrical output.” This project comprises of four (4) units at 150MW capacity each and targeted on stream by year 2020.
Another off-take deal for 70MW has also been cornered with Panay Energy Development Corporation, a facility of Global Business Power Holdings in Iloilo City.
Over the medium term – or around year 2022, Meralco also procured 600MW capacity from the proposed Global Luzon Energy Development Corporation to be sited in La Union province.