By Lenie Lectura – January 8, 2019
from Business Mirror
THERMA Mobile Inc. (TMO) has decided to cease participation in the electricity-trading market.
The unit of Aboitiz Power Corp. (AboitizPower) said on Monday it notified the Manila Electric Co. (Meralco) it will physically disconnect from the distribution utility’s system and will deregister as a trading participant in the Wholesale Electricity Spot Market (WESM) effective February 5, 2019.
“This is due to TMO’s commercial inactivity since June 26, 2018, following the absence of an approved power supply agreement,” the power firm said on Monday. “After evaluating the circumstances and the options available, TMO decided to mothball its bunker C-fired diesel power plants.”
TMO will notify the Philippine Electricity Market Corp., Independent Electricity Market Operator of the Philippines Inc., Department of Energy, and Energy Regulatory Commission, following the notice requirements under the Electric Power Industry Reform Act of 2001 (Epira), its implementing rules, and other relevant rules and regulations.
When sought for comment, AboizPower COO Emmanuel Rubio said in a text message that the company plans to relocate two of the four barges and keep the remaining two.
“We are working on relocating two of the barges where they are needed and keep the two so they can connect to the new National Grid Corp. of the Philippines (NGCP) substation once completed,” he said.
The bunker C-fired diesel power facility is composed of four barges acquired by TMO in May 2011 from the Power Sector Assets and Liabilities Management Corp.
The four barges underwent rehabilitation starting July 2011. Commercial operations began on November 12, 2013, at a capacity of 100 megawatt as against an installed capacity of 242 MW.