The power distributor Manila Electric Co. (Meralco) is now compelled to temporarily procure supply from the Wholesale Electricity Spot Market (WESM) as the contracted emergency power supply agreement (EPSA) with Aboitiz Power Corp. worth 300 megawatts (MW) ended on Wednesday.
Aboitiz Power said it is willing to resupply Meralco provided the distributor launches another competitive selection process with “reasonable” terms of reference.
“Under the EPSA, the 300 MW power was derived from the new 1,336 MW GNPower Dinginin plant in Mariveles, Bataan with a fixed price of P5.95 per kilowatt hour. We remain grateful for the opportunity to contribute to the delivery of a much-needed energy supply covering the Meralco franchise. In the event that Meralco launches another CSP, where the terms of reference will be reasonable, AboitizPower will certainly participate,” the company said in a statement.
Sought for comments, a Meralco representative said he is still securing approval from top management.
Meralco and Aboitiz Power first signed the EPSA involving the 300 MW from Dinginin on December 15, 2022.
