By: Roy Stephen C. Canivel - 04:46
AM July 18, 2020
A subsidiary of Aboitiz Power Corp.
said it was no longer disconnecting from the Manila Electric Co. (Meralco)
system, after an Ancillary Services Procurement Agreement (Aspa) had been
signed with National Grid Corp. of the Philippines (NGCP).
In a disclosure to the stock market
on Friday, Aboitiz Power said Therma Mobile Inc. (TMO) was withdrawing an
earlier request to deregister from the Wholesale Electricity Spot Market (WESM)
and Meralco.
This, Aboitiz Power said, developed
after TMO and NGCP signed an Aspa, or a standby power supply deal, which
essentially ensured a backup supply in case the power grid could not meet
demand.
TMO has already notified the
Department of Energy and the Energy Regulatory Commission (ERC) about the
agreement.
On June 3, TMO said it would
disconnect from Meralco’s system and deregister as a trading participant in
WESM effective July 15 in the absence of a power supply agreement approved by
the ERC.
TMO is a wholly owned subsidiary of
Aboitiz Power Corp. through Therma Power Inc., the group’s holding company for
its investments in thermal energy.
Ancillary services refer to standby
power supply that can be tapped in case regular supply falls short of the
requirement.
By having this extra capacity, NGCP
can ensure that the facilities and the grid will not be damaged due to a sudden
drop in voltage.
TMO and NGCP will jointly file an
application in the ERC for the approval of the Aspa.
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