Meralco vice president and head of utility economics Lawrence Fernandez said SMC Global Power Holdings Corp. , the conglomerate’s power arm, sent a notice ceasing their supply agreement effective Dec. 7.With the power generated by SMCGP out of Meralco’s supply mix, the distribution utility has started sourcing electricity from the Wholesale Electricity Spot Market prices.
Meralco is yet to determine the rate impact of SMC’s termination of the power supply agreement on its customers as it will depend on various factors.
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