ERC expects decision this year on 3 out of 7 Meralco PSAs

The Energy Regulatory Commission (ERC) is hopeful to come out with a decision on three out of seven power supply agreements (PSAs) of Manila Electric Co. (Meralco) by year-end. In a forum yesterday, ERC commissioner Josefina Magpale-Asirit said the power regulator is looking to issue a decision on three Meralco PSAs with Redondo Peninsula Energy…

Meralco eyes additional solar power supply

After closing three solar power supply deals, Manila Electric Co. (Meralco) is looking to add 50 to 100 megawatts (MW) of solar capacity to meet the renewable energy requirements of its franchise area. Meralco president Oscar Reyes said the company has received at least 10 offers to supply solar energy to the power distributor. “We’ll…

ERC urged on policy for power supply deals

The Energy Regulatory Commission (ERC) needs to form a policy in centralizing the competitive selection process (CSP) which will create a level playing field for distribution utilities (DUs) and electric cooperative (ECs) in securing power supply deals with generation companies. Philippine Electricity Market Corp. (PEMC) is currently finalizing its study on the third party auctioneer…

Meralco transforming network into smart grid

Power distributor Manila Electric Co. (Meralco) is transforming its network into a smart grid as it eyes to launch its Advanced Metering Infrastructure (AMI) project starting mid-2017. Meralco has filed an application with the Energy Regulatory Commission (ERC) for the deployment of basic AMI services by June 1, 2017. AMI is an integrated system of…

Solons rap alleged midnight deals by ERC in favor of Meralco

Congressmen on Tuesday assailed the alleged sweetheart deals engineered by officials of the Energy Regulatory Commission (ERC) to favor power distributor Meralco, allowing the latter to lock down consumers in its franchise areas to disadvantageous power rates for up to 25 years. In a statement issued to media, Bagong Henerasyon Rep. Bernadette Herrera-Dy said the power supply…

Halt on power retail rules favors big producers: Bayan Muna

The Supreme Court’s decision to temporarily halt rules for electricity retail will curtail consumers’ freedom of choice, a left-wing group has said. Delaying open access to electricity will work in favor of large power distributors like the Manila Electric Co., said Bayan Muna chairman Neri Colmenares. The high tribunal last week issued a temporary restraining…

Solon seeks probe on energy regulator, Meralco

A lawmaker on Tuesday called for an investigation on allegations the extension of a regulatory deadline for compliance with competition rules benefited the Manila Electric Co. The Energy Regulatory Commission had set a November 2015 deadline but was later extended to 2016, Bayan Muna party-list Representative Carlos Isagani Zarate said. Four days before the new…

Meralco cautious on 2017 prospects

After surpassing its core income target in 2016, power distributor Manila Electric Co. (Meralco) is turning cautious this year as it braces for the impact of global developments and cooler temperature on the electricity demand and energy sales, company officials said yesterday. In a briefing yesterday, Meralco chief finance officer Betty Siy-Yap said core net…

Manila Electric Co. (Meralco) likely achieved its core net income guidance of P19 billion last year as overall demand bill volume went up. Meralco chairman Manuel V. Pangilinan told reporters the power distributor is expected to have met its P19 billion core net profit guidance for 2016. “Overall demand bill volume was slightly above eight…

Meralco may cut power rates this month

Customers of Manila Electric Co. (Meralco) are likely to see a reduction in power rates this month due to lower generation charge – the biggest component in electricity bills. “We may see the possibility of lower electricity rates this month following a slight increase in December,” Meralco spokesperson Joe Zaldarriaga said. He said charges from…

Meralco-REDC partnership starts P2.7-B hydro project

The team-up of Manila Electric Co. (Meralco) and Repower Energy Development Corp. (REDC) have started works on the P2.7-billion hydropower project in Bukidnon. The partners recently held a ground breaking ceremony for the 10.6-megawatt (MW) run-of-river hydropower project in the Pulanai River. Pure Meridian Hydropower Corp. (PMHC), the joint venture company, will oversee and operate…

Meralco to hike rates in Dec as weak peso pads costs

Manila Electric Co., the country’s largest power distributor, said Wednesday it would increase rates this month after the peso’s weakness against the dollar inflated costs. The P0.10kwh adjustment will result to an increase of roughly P20 for those who consume 200 kwh monthly, P30 for 300 kwh, P40 for 400 kwh and P50 for 500…