Meralco inks new power supply deals for summer


Posted at Apr 02 2014 06:17 PM | Updated as of Apr 03 2014 02:17 AM

MANILA, Philippines – Manila Electric Co. (Meralco) has signed new power supply deals to address the high demand during summer season.

Meralco said it signed on Monday separate Interim Power Supply Agreements (IPSA) with Toledo Power Co. and Panay Power Corp. to cover April 1 to June 30.

The agreement with Toledo Power covers up to 28 megawatts and an option for an additional nine megawatts.

The agreement with Panay Power, on the other hand, is for 27 megawatts.

The IPSAs are subject to the approval of the Energy Regulatory Commission (ERC) approval.

Meralco has also signed an agreement with 1590 Energy Corp. for purchase of up to 140 megawatts and associated energy output from its Bauang Power Plant.

The agreement, also pending approval from the ERC, will expire on June 30 unless terminated or extended.