Meralco power generating unit assesses direction
Meralco Powergen Corp. (MGen) is revisiting its direction towards renewable energy and liquefied natural gas (LNG) development as it seeks regulatory action on the power supply deals of its coal-fired power plants.
“We realize that the industry’s changing. We have renewables in place or coming in very strong. We’re seeing erosion in terms of the power sources,” he said. “We think that the renewables, LNG will play a strong play compared to current sources,” said MGen president Rogelio Singson.
All of MGen’s power plant developments are coal-based, with some still pending for completion since the Energy Regulatory Commission (ERC) has yet to decide on the power supply agreements of Redondo Peninsula Energy Inc., St. Raphael Power Generation Corp., Atimonan One Energy Inc. with Meralco.
“Hopefully, with ERC now stabilizing, then we can go back to them and really appeal because we really need these PSAs as soon as possible,” Singson said.
ERC commissioner Josefina Magpale-Asirit earlier said the agency was looking to issue a final decision on three out of seven PSAs of Meralco.
These PSAs are with RP Energy, SRPGC and Atimonan One.