The Department of Energy (DOE) called out Manila Electric Co. (Meralco) and Excellent Energy Resources Inc. (EERI), operator of the 1,275-megawatt combined cycle natural gas plant over the alleged undelivered capacity under their power supply agreement.
Meralco and EERI signed a PSA covering 1,200 MW of baseload capacity following a competitive selection process last year. The country’s biggest power distributor awarded EERI the PSA for its offer of P7.1094 per kilowatt-hour in terms of total delivered levelized cost of electricity, VAT inclusive with full capacity to be delivered by December 2024.
“We will focus on the Meralco as they have a big share in the demand and has a larger responsibility to make sure that the power plants that they have contracted with are delivering based on the contract on time,” DOE Undersecretary Felix William Fuentebella said in a briefing Monday.
