By Alena Mae S. Flores Posted on Jan. 04, 2013 at 12:01am
Manila Electric Co., the country’s biggest electricity retailer, signed an agreement to purchase power from Aboitiz Power Corp. for a six-month transition period prior to the start of the open access and retail competition regime.
Meralco said in a statement the power supply agreements with Aboitiz Power units Therma Luzon Inc. and AP Renewables Inc. covered the volume it needed during the transition period.
The Energy Regulatory Commission earlier declared Dec. 26, 2012 as the commencement date for retail competition and open access, which allows customers with a monthly average consumption of one megawatt to choose their power supplier.
The ERC, however, set a six-month transition period prior to the full implementation of the new system, which means the open access contracts will take effect on June 26, 2013.
Therma Luzon and AP Renewables are wholly-owned subsidiaries of Aboitiz Power, a publicly-listed holding company that has accumulated interests in both hydro and thermal power plants.
Therma Luzon is the independent power producer that administers the output of the Pagbilao coal plant in Pagbilao, Quezon.
AP Renewables owns and operates the Tiwi-Makban geothermal power plant in Tiwi, Albay and Makiling/Banahaw, Laguna.
Meralco, under the power supply agreement with Therma Luzon and AP Renewables, will buy power from the two until June 25, 2013 and after the expiration of a separate transition supply contract with National Power Corp. source
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