Savings for power consumers
Credit to Author: Tempo Desk| Date: Wed, 25 Sep 2019 16:45:37 +0000
THE memories of the past summer months are still bright and fresh. The multiple yellow and red alerts we experienced during that period were an eye-opener for Filipino consumers, showing us that we desperately need more power supply and additional capacity to add to the grid.
Well, it seems that the government and the private sector responded quickly.
I saw on the news that Meralco held recently the successful power supply agreement (PSA) signing for contracts to supply Meralco 500 MW of mid-merit capacity effective December 26 for a five-year term.
The contracts will be subject to regulatory proceedings and evaluation by the Energy Regulatory Commission (ERC), ensuring that everything is above board.
I guess Leftist Consumer groups can now withhold their attacks on the PSAs and appreciate the fact that the competitive selection process (CSP) is pro-consumer.
The bidding was done following the Department of Energy (DoE) Circular requiring Distribution Utilities to procure power through CSPm which was administered by the Third-Party Bids and Awards Committee.
This is all good, but this takes the cake: Additional savings to consumers.
With these PSAs we can look forward to lower rates. This will result in additional savings and, ultimately, the least cost.
* * *
During the agreement signing for 1,200 MW of baseload capacity last September 13, San Miguel Corporation President Ramon Ang said: “Actually we were hesitant to join the bidding. walang fuel pass-on, talagang grabe ang risk. Pero I know (Meralco President and CEO Atty. Ray Espinosa) was trying to pr
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