A limited hedge on fuel supply procurement that a power generator can avail of has been the major justification cited by Aboitiz Power Corporation for the higher rate of P5.69 per kilowatt hour (kWh) it offered to Manila Electric Company (Meralco) in their emergency power supply agreement (EPSA).
The joint venture of Aboitiz Power Corporation and ACEN Corporation of the Ayala group will be selling electricity to Manila Electric Company (Meralco) for a rate higher by P1.65 per kilowatt hour (kWh) to P5.96 per kWh compared with the cheaper P4.31 per kWh rate of South Premiere Power Corporation
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South Premiere Power Corporation (SPPC), a subsidiary of San Miguel Corporation, stood its ground that it has a supply contract for 70.26 petajoules (PJ) of banked gas that has to be lifted from the Malampaya gas field project.
The SMC company has contradicted the statement of the Malampaya co
Power utility giant Manila Electric Company (Meralco) has formally asked South Premiere Power Corporation (SPPC) to pay the "price difference" it incurs after the San Miguel Corp. unit stopped supplying capacity from its Ilijan plant.
In a letter on Monday, Dec. 12, 2022 addressed to SPCC General