Meralco Strives to Deliver Best Price
Meralco assures its customers that the generation charge in the coming years will be lower by more than P1 per kWh compared to previous years. Photo from Shutterstock.
Meralco Strives to Deliver Competitively Priced Electricity For Businesses and Households
by Meralco Power Club
In 2018, the Department of Energy ordered distribution utilities like Meralco to set up a third-party bids committee to conduct a competitive selection process for the supply of the DU’s electricity requirements, while the Energy Regulatory Commission reviews the result of the bidding.
Atty. Jose Ronald V. Valles, Meralco First Vice President and Head of Regulatory Management, told a congressional hearing on July 15, 2020, Wednesday, that Meralco’s “only participation” in this competitive selection process is to determine power requirements for a certain period.
Valles said the generation charge in the coming years will be lower by more than P1 per kWh compared to previous years because of the selection process conducted in 2019 for new power supply agreements.
Six power supply deals that total 1,700 megawatts in fresh capacity that Meralco signed last year will result in savings of around P13.86 billion for customers over a 10-year period.
Atty. William S. Pamintuan, Meralco Senior Vice President and Chief Legal Counsel, told the House of Representatives panel that because of Meralco’s invocation of the force majeure provisions in its various power supply deals beginning March, power rates were brought to their lowest levels since September 2017.
Pamintuan added Meralco has always placed the customers’ best interest as a major consideration in all the power supply and other contracts the power distributor enters into, especially during times like this when the country faces a crisis.
To learn more, contact your Relationship Manager, call 16210 or email us at corporatepartners@meralco.com.ph.
Story originally posted on Power Club.