Latest Stories

Meralco turns to PSALM for additional power


MANILA, Philippines—Manila Electric Co., the country’s biggest power distributor, seeks to increase the volume of electricity it sources from state-run Power Sector Assets and Liabilities Management Corp. by another 100 megawatts to secure the power supply within its franchise area.

The distribution utility has also sought to extend anew the period covered by its transition supply contract with PSALM.

Meralco president Oscar S. Reyes said that the company hopes to extend the contract until June, when the open access scheme is expected to start, or when the 246-megawatt Angat hydropower plant in Bulacan has been turned over to the private sector.

Meralco’s transition supply contract with PSALM expired last December. The contract was then extended to allow PSALM to continue supplying roughly 240 MW to Meralco for two months, or until the end of February.

“We’re working for an extension with PSALM. We’ve requested for [additional] volume … of 100 MW. This request is going to be beneficial to over 5 million residential, industrial and commercial customers who will be less exposed to the [high electricity rates at the] wholesale electricity spot market during the summer months,” Reyes told reporters in a recent interview.

“It’s a win-win [move] for everyone, because it also benefits PSALM and the National Power Corp.”

Last December, the PSALM board extended the transition supply contract with Meralco by two months, as opposed to the six-month period sought by the distribution utility.

PSALM president and CEO Emmanuel Ledesma Jr. earlier said that they were no longer keen on extending by another four months its transition supply contract with Meralco, as they anticipate the turnover this month of the Angat power facility to its new owner—Korea Water Resources Corp. (K-Water), the leading water resources and power firm in South Korea.

Because of this development, Meralco will have to negotiate with K-Water for additional power requirements to help ensure adequate supply for the utility’s over 5 million customers.

Follow Us

Follow us on Facebook Follow on Twitter Follow on Twitter

Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: electricity production and distribution , Energy , Manila Electric Co. (Meralco) , Philippines , power , Power Sector Assets and Liabilities Management Corp. (PSALM)

  • jurbinsky77

    Meralco should be sued in its policy of charging consumers with transmission loss and exchange rate differential. It should charge only for goods and services and not on its inefficiency.

Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94


  • Prosecutor says mate in SKorean ferry steering waters for 1st time
  • Malaysia asks world to pray for missing plane clue
  • 13th body pulled from snow in Everest avalanche
  • Pope sends condolences for S.Korea ferry victims
  • Drone kills 15 ‘Qaeda,’ 3 civilians in Yemen – security
  • Sports

  • MLB pitcher donates $100,000 for Sewol ferry victims
  • Hamilton takes pole at Chinese Grand Prix
  • Duke’s Rodney Hood joining Jabari Parker in NBA draft
  • Phelps entered in 3 events at comeback meet
  • Boston prepares for huge wave of marathon visitors
  • Lifestyle

  • Levine designs womenswear with help from fiancee
  • Gabriel Garcia Marquez, Nobel laureate, dies at 87
  • Ford Mustang turns 50 atop Empire State Building
  • Pro visual artists, lensmen to judge Pagcor’s photo contest
  • ‘Labahita a la bacalao’
  • Entertainment

  • Myx TV premieres Asian American ‘docu-series’
  • A nutty finale for ‘Scandal,’ TV’s craziest show
  • EXO postpones release of mini album ‘Overdose’
  • ‘X-men’ filmmaker slams ‘fabricated’ sex attack claims
  • Singer Chris Brown’s bodyguard on trial in DC
  • Business

  • Fiat-Chrysler to produce iconic Jeep in China from 2015
  • US commerce secretary spells out economic facet of ‘pivot to Asia’
  • Italy sells luxury state cars on eBay
  • Asian shares mostly up in quiet trade
  • Dollar up in Asia on US jobs data, Ukraine deal
  • Technology

  • Nasa’s moon-orbiting robot crashes down
  • Netizens pay respects to Gabriel Garcia Marquez
  • Nokia recalls 30,000 chargers for Lumia 2520 tablet
  • Facebook rolls out ‘nearby friends’ feature
  • Netizens seethe over Aquino’s ‘sacrifice’ message
  • Opinion

  • Editorial cartoon, April 17, 2014
  • A humbler Church
  • Deepest darkness
  • ‘Agnihotra’ for Earth’s health
  • It’s the Holy Week, time to think of others
  • Global Nation

  • 5 Filipinos with MERS in UAE reported in stable condition
  • PH boosts MERS monitoring after UAE nurse scare
  • Canadians back PH plea to take back waste
  • We treasure our Sierra Madre
  • OFW from UAE tests negative for MERS-Cov–health chief
  • Marketplace