Meralco prepares deals with power suppliers - BusinessMirror

TO ensure continued electricity supply to its more than 7 million customers, the Manila Electric Company said Tuesday it has forged emergency supply deals with other power suppliers after the Energy Regulatory Commission denied the P0.30 per kilowatt-hour joint rate hike plea of Meralco and San Miguel Corporation’s .

“We are hoping for the swift action of the DOE in exempting the EPSAs from undergoing CSP. Without these EPSAs, our customers may become exposed to volatile prices,” said Valles. However, in the event that SPPC and SMEC cannot actually deliver power to Meralco for whatever reason, we are constrained to source up to 1,000 MW from WESM without prejudice to the resolution of whatever legal remedies Meralco may pursue against SPPC/SMEC under the PSA,” said Valles.

The commission noted that in Meralco’s calculations on price impact to consumers under a scenario wherein the PSAs are terminated, and with power being procured from WESM, Meralco utilized an average WESM price forecast of P8.94004 per kWh. The commission, on the other hand, simulated price impacts on the basis of actual market behavior, arriving at a figure of P7.6659 per kWh.

Source: News Formal (newsformal.com)

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

88rising announces lineup for 'Head in The Clouds' Manila88rising announced its "Head In The Clouds" (HITC) Manila lineup on social media on Monday.
Source: gmanews - 🏆 11. / 68 Read more »

Head in the Clouds Manila lineup revealedTime to secure those tickets! 🎫
Source: gmanetwork - 🏆 12. / 63 Read more »

'Philippines is ready to pursue even grander dreams': Marcos kicks off Metro Manila Subway constructionThe P488 billion Metro Manila Subway is expected to cut 35 minutes of travel time in these areas.
Source: YahooPH - 🏆 22. / 51 Read more »

Joji, NIKI, Jackson Wang, and more: ‘Head In The Clouds’ Manila announces lineup88rising finally announces the much-awaited lineup for Head In The Clouds Manila! Artists Joji, Jackson Wang, NIKI, Rich Brian, eaJ, and YOASOBI are set to headline the two-day festival. Full story:
Source: rapplerdotcom - 🏆 4. / 86 Read more »

Saudi crown prince and PM sets visit to Manila–DFA - BusinessMirrorSaudi Arabia’s Crown Prince and newly appointed Prime Minister Mohammed bin Salman is slated to visit Manila next month, a senior Foreign Affairs official said. If the visit pushes through, the 37-year-old Saudi Crown Prince would be the first head of government to visit the Philippines since President Ferdinand “Bongbong” Marcos Jr. took office last Customs alert: bonesaw!
Source: BusinessMirror - 🏆 19. / 59 Read more »

Former anti-Red official ordered to explain threat vs Manila judge - BusinessWorld OnlineThe Philippine Supreme Court on Tuesday ordered a former anti-communist spokesperson of government to explain why she should not be cited in contempt for allegedly threatening a Manila trial court judge on Facebook. READ:
Source: bworldph - 🏆 9. / 68 Read more »