By
BusinessMirror - February 23, 2017
THE Manila Electric Co.
(Meralco) and PowerSource First Bulacan Solar Inc. (PFBS) are asking the Energy
Regulatory Commission (ERC) to approve their power-supply agreement (PSA).
In a 15-page
application, they asked the ERC to “render a decision approving the PSA”.
Meralco cited the need
to source additional peaking capacity through bilateral power-supply contracts
in order to ensure continuous and reliable electricity for its customers.
“Based on the
power-situation outlook for 2017 and succeeding years, Meralco foresees a
peaking capacity deficit in its portfolio, especially for the summer months, due
to the expected high demand, as well as possible occurrences of scheduled
maintenance shutdowns and forced outage of power plants,” Meralco said.
Based on the utility
firm’s distribution development plan for 2015-2020, Meralco’s aggregate
capacity requirement is forecasted to grow by a compounded average growth rate
of 3.7 percent.
Under the PSA, Meralco
will purchase up to 50 megawatts from the proposed solar power plant of PFBS in
San Miguel, Bulacan, or an alternative site embedded within Meralco’s franchise
area.
The cost of power that
Meralco will purchase from PFBS is pegged at P4.69 per kilowatt-hour (kWh).
“This Honorable
Commission’s approval of the PSA will send strong signals to renewable- or
solar-energy generation projects in the Philippines, and thus, set the pace for
infusion of similar investments by the private sector,” the companies said in
their joint application.
Before Meralco awarded
the PSA to PFBS’s proposal, another power firm, 7 Balboa Energy Holdings Inc.,
challenged the proposal.
PFBS, as the original
power-supplier contract, exercised its right to match 7 Balboa’s proposal.
Thereafter, Meralco
awarded the PSA to PFBS.
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