THE Energy Regulatory Commission (ERC) has granted Manila Electric Co. (Meralco) and First NatGas Power Corp. (FNPC) the authority to implement their power supply agreement (PSA) in an “interim relief” that sets certain conditions. “In the event that the final rate is higher than that granted in the interim, the resulting additional charges shall be…
Tag: power supply
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…
DOE denies Luzon grid on yellow power alert until June
The Department of Energy DOE on Monday refuted a media report that the Luzon island has been placed on the second highest alert until June due to insufficient power reserves. A newspaper citing the National Grid Corporation of the Philippines NGCP had reported that a yellow alert was raised in Luzon after several power plants…
No brownouts seen as sufficient power supply forecast this summer
No electricity supply shortfall is expected in the summer months, but the Philippines can’t give up coal-fired power plants as these are needed to keep the economy going, according to the Department of Energy. Energy Undersecretary Felix William Fuentebella said yesterday the Luzon grid had a generating capacity of about 10,000 megawatts while demand was…
Aboitiz Power to electrify Walter Mart malls
Community mall pioneer Walter Mart has teamed up with Aboitiz Power Corp. to power up its new malls under the Retail Competition and Open Access (RCOA) regime. Aboitiz Power and Walter Mart have signed a 4.7-megawatt (MW) power supply deal for its mall expansion this year. This year, Walter Mart is set to open branches…
Mindanao power producers urged to maximize energy mix
Mindanao electric cooperatives (ECs) and distribution utilities (DUs) are urged to take advantage of the excess power supply regime in the power grid as the Mindanao Development Authority (MinDA) pushes for reliable and affordable power supply in the region. MinDA said power distributors should maximize their energy mix and ensure affordable power for their consumers…
Surplus means rehab possible for Agus-Pulangi — DoE
The Department of Energy (DoE) said it is open to the idea of the Agus-Pulangi hydroelectric power complex in Mindanao to being rehabilitated before its eventual sale to the private sector. “We have more than enough [power supply] in Mindanao. Having more than enough it would be an opportune time to rehab,” Energy Secretary Alfonso G….
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…
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…
Solar now cheapest source of energy
Solar power is becoming the world’s cheapest form of new electricity generation, according to an international group of renewable energy and financial experts. A recent report from the Bloomberg New Energy Finance, a team of experts in cross-sectors and cross-geography trends spread across six continents, shows that solar now outranks wind as the cheapest form…
Malampaya funds eyed to lower rates
The government is considering the use of a portion of the P228-billion Malampaya fund to reduce power costs in the Philippines, an energy official said over the weekend. “The DoE was informed that about P228 billion was deposited to the special account of the fund three months ago. This can be verified with the Department…
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