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PH gov’t approves extension of First Gen and Meralco supply deal
Abstract
The Philippines’ Energy Regulatory Commission (ERC) has approved the extension of the supply deal between First Gen Corp. and Manila Electric Co. (Meralco)
In a bourse filing, First Gen said the power purchase agreement between First Gas Power Corporation (FGPC) and Meralco is for the operation of the 1,000 megawatt Santa Rita Power Plant.
“The ERC Order was issued in response to the Joint Manifestation with Motion submitted by Meralco and FGPC which requested for, among others, the approval of the Interim Extension of the PPA until 31 January 2026,” First Gen said.
In the order, ERC pointed out that the matter becomes a concern for energy security should the Santa Rita Power Plant and other facilities supplied by Malampaya become unavailable to the power grid.
“First Gen commits to operating and maintaining the Santa Rita Power Plant in a manner which ensures that it continues to be a reliable supplier of electricity to the grid, in line with the government’s direction to promote the use of indigenous natural gas for energy security and the transition to renewable energy,” the company said.