By Juzel L. Danganan
MANILA, Aug. 25 (PNA) – Southwest Luzon Power Generation Corp. (SLPGC) has signed a two-year power supply agreement (PSA) with the Manila Electric Company (Meralco) effective March 26, 2016 until Dec. 25, 2018.
In a disclosure from the Philippine Stock Exchange (PSE) Tuesday, Semirara Mining and Power Corp. said “the Company’s wholly-owned subsidiary, SLPGC, and Meralco local retail electricity supplier (RES) segment have signed a PSA with a term until December 25, 2018… at a total capacity of 120 MWs effective March 26, 2016.”
RES firms serve as the supplier of contestable customers, who have a choice from where to source their power needs. Currently, customers become qualified as contestable upon reaching a consumption of at least 1 MW.
Semirara Mining noted the two parties may extend the agreement by up to four years. It did not disclose other details of the agreement.
SLPGC, which is composed of two units of 150 MW, has a full capacity of 300 MW.
Last May, Semirara said in a disclosure that it expects SLPGC to bring another 150-MW capacity to the Luzon grid this year.
Semirara Mining is a wholly-owned subsidiary of DMCI Holdings Inc. (PNA)