ERC speeds up PSA approvals for ECs ahead of summer

The Energy Regulatory Commission (ERC) is accelerating approvals of power supply agreements (PSAs) to protect electric cooperatives from fluctuations in the Wholesale Electricity Spot Market (WESM) ahead of summer.

ERC Chairperson Monalisa Dimalanta stated that PSAs will shield consumers from price spikes and are currently being expedited for ECs exposed to WESM, with coordination between ERC and DOE on maintenance schedules.

The DOE is assessing supply situations and approving outage schedules for power generators like SPPC and EERI gas-fired plants undergoing shutdowns from March 29 to 31.

Regulators are preparing for the fourth green energy auction (GEA-4), focusing on integrated renewable energy and storage systems, while updating cost assumptions and conducting focus group discussions with developers.

ERC is also hopeful about amendments to the Electric Power Industry Reform Act (EPIRA) to ensure reliable and fair electricity prices, though timelines remain tight.