By Lenie Lectura – March 12, 2018
from Business Mirror
The San Gabriel PSA offers a number of benefits that will enhance the quality of Meralco’s power-generation portfolio by providing: (i) competitive dependable baseload capacity; (ii) an immediate source of replacement power during outages of other baseload plants; and (iii) the option for mid-merit supply matched with Meralco’s ramping requirement since San Gabriel has the ability to rapidly ramp up and down upon notice.
Under the terms of the PSA, power from San Gabriel is actually available for purchase by Meralco immediately. However, the sale of electricity to Meralco will only commence upon its approval by the Energy Regulatory Commission.
The PSA is set to expire on February 23, 2024, unless otherwise extended by the parties.
Earlier, Solar Philippines Inc. challenged the price offer of First NatGas to supply Meralco with 24/7 power at P2.99 per kWh.