September 13, 2025 | 12:00am
MANILA, Philippines — The Power Regulatory Fee has upheld the proposed energy provide charges of San Miguel World Energy (SMGP) and ACEN Corp.’s subsidiaries for his or her contracts with Manila Electrical Co. (Meralco).
ERC chairman and CEO Francis Saturnino Juan instructed reporters that SMGP’s San Roque Hydropower Inc. (SRHI) and ACEN’s Gigasol3 Inc. already secured remaining approval for his or her energy provide agreements (PSAs) with Meralco.
“Since we have now already give you the choice and promulgated it (on Wednesday), it’s now as much as the events to schedule when the supply will start,” Juan stated on the sidelines of an vitality discussion board hosted by the Financial Journalists Affiliation of the Philippines on the Securities and Trade Fee.
In deciding on these PSAs, Juan stated the ERC retained SRHI and Gigasol3’s proposed charges of P7.10 per kilowatt-hour and P8.1819 per kWh, respectively.
The charges had been larger than the beforehand accredited fastened price of just a bit over P5 per kWh.
“The ultimate choice that we rendered was based mostly on the utilized charges, with the rationale being that this was already the product of the aggressive choice course of (CSP),” Juan stated.
SRHI and Gigasol3 emerged final 12 months because the successful bidders throughout Meralco’s CSP for its renewable vitality provide. The CSP includes a 10-year PSA for Meralco’s 500-megawatt mid-merit requirement.
SRHI supplied the bottom whole headline price of P7.10 per kWh for 340 MW of the full requirement.
Gigasol3 submitted a bid value of P8.1819 per kWh for 139 MW, whereas one other ACEN unit, Santa Cruz Photo voltaic Power Inc., cornered the remaining 21 MW at a price of P8.1998 per kWh.
Nonetheless, the ERC, below former chairperson Monalisa Dimalanta, solely accredited an relevant price of P5.1908 per kWh for each PSAs of SRHI and Gigasol3.
This prompted SRHI to file a movement for consideration, emphasizing that the earlier ERC ruling made it unattainable for the corporate to carry out its obligations below the PSA.
