Inquirer
ERC approves original Meralco power deals with SMC, Ayala
The Energy Regulatory Commission (ERC) has approved the original rates for Meralco's power supply agreements with San Miguel Global Power Corp. (SMGP) and ACEN Corp.
ERC Chairperson and CEO Atty. Francis Saturnino Juan confirmed the approval, stating it was promulgated on Thursday and allows parties to schedule delivery.
San Roque Hydropower, Inc. (SRHI) will supply 340 MW for P7.10 per kWh, while Gigasol 3, Inc. will provide 139 MW for P8.1819 per kWh.
This approval overturns a previous ERC ruling that had authorized lower fixed charges of P5.1908 per kWh without any escalation or adjustment.
San Miguel had filed a non-acceptance letter due to the previous ruling.
Meralco previously warned that the non-approval of the deals could impact electricity supply to over eight million consumers.
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