by Myrna Velasco October 28, 2015
The trading of the 200-megawatt
excess capacity of the Sual coal-fired power facility in Pangasinan is legal
and above-board, plant operator TeaM Energy Philippines has qualified in a
statement to the media.
TeaM Energy – which is a joint
venture of Japanese firms Tokyo Electric Power Company and Marubeni Corporation
– has been implicated in the P14 billion plunder charges lodged by the energy
arm of San Miguel Corporation against Power Sector Assets and Liabilities
Management Corporation.
PSALM is TeaM Energy’s counter-part
in the memorandum of agreement (MOA) on the sale and trading of the excess
capacity of the 1,200MW Sual power facility.
“The MOA is legal and above-board.
This went through the regular approval process of the respective boards of NPC
and PSALM,” the Japanese joint venture firm has noted.
The NPC-PSALM Board comprised of the
secretaries of the Departments of Finance, Energy, Budget and Management, Trade
and Industry, National Economic and Development Authority (NEDA), Interior and
Local Government, Agriculture, Environment and Natural Resources, and Justice.
It qualified that under their
agreement, the trading of the 1,000MW capacity which account for the fraction
of the supply contract to the San Miguel subsidiary as independent power
producer administrator (IPPA), is given priority in the dispatch order.
“There is no truth to the claim of
SMEC (San Miguel Energy Corporation) that TPEC has priority over the dispatch
of the 200MW excess capacity because dispatch of capacity is based on
competitive bidding under the Wholesale Electricity Spot Market rules,” TeaM
Energy stressed.
It emphasized that it has been clear
from the MOA that “the contracted capacity of 1,000MW has priority over the
excess capacity of 200MW.”
As prescribed under the energy
conversion agreement (ECA) of the Sual plant, it was only the 1,000MW of the
capacity that had been under contract with state-run National Power Corporation
(NPC), which subsequently was privatized via the appointment of an IPPA.
TeaM Energy has qualified that “even
prior to the MOA, (TeaM Energy) has been trading its 200MW excess capacity in
the WESM through PSALM.”
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