Posted on November 21, 2012 11:17:51 PM
ELECTRICITY distributor Manila Electric Co. (Meralco) has programmed P11 billion in capital expenditures (capex) next year which will be used partly to improve its network and fund its smart grid plan, top company officials told reporters on the sidelines of the lighting of Liwanag Park at the Meralco compound late Tuesday.“It’s around P11 billion for Meralco, mainly to improve the distribution system, upgrades and for the smart grid network that we’re experimenting already,” Meralco Chairman Manuel V. Pangilinan said when asked on the planned capex for 2013.
Meralco had said in April that it aims to have its entire franchise area covered by smart grid technology that will enable consumers to avail of a prepaid scheme and provide real-time supply-demand information to those who want to use cheaper electricity during off-peak hours of the day.
Under Meralco’s prepaid electricity project, customers can pay in advance for the amount of electricity they plan to use. The payment will then be credited to their smart meters. The utility has set the technical test of the prepaid electricity service in Angono, Rizal in December, and the commercial test in a wider area in the first half of 2013. Its rollout to 40,000 customers, as allowed by the Energy Regulatory Commission, will be on June 2013.
In the same event, Meralco President Oscar S. Reyes told reporters:
“We’re looking at around P11 billion for 2013. That’s bigger than this year, which is over P9 billion.”
“We’re seeing growth in demand, so we want to stay ahead and put in place a more robust distribution network and also customer service infrastructure,” Mr. Reyes explained.
The utility’s peak demand this year is estimated at 5,500 megawatts, Larry S. Fernandez, Meralco’s head of utility economics, said by phone. “In the past three years, our demand grows by an average of 5% annually,” he said.
Meralco shares gained 20 centavos to P256.80 apiece yesterday.
Beacon Electric Asset Holdings, Inc., which has the largest stake in Meralco, is partly owned by Philippine Long Distance Telephone Co., Inc. (PLDT). Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a minority stake in BusinessWorld. -- CAMCF
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