Meralco, FirstGen unit ink power supply deal
Lopez-led First NatGas Power Corp. has inked an agreement with cfor the sale and purchase of 414 megawatts of baseload capacity.
The power will be sourced from the San Gabriel natural gas-fired power plant, which located within the First Gen Clean Energy complex in Batangas City.
Under the six-year power supply agreement, Meralco secures competitively priced baseload electricity since San Gabriel’s all-in tariff at an 80 percent capacity factor is P3.77 per kilowatt hour.
The PSA is seen to enhance the quality of Meralco’s power generation portfolio an iimmediate source of replacement power during outages of other baseload plants.
The sale of electricity to Meralco will only commence upon its approval by the Energy Regulatory Commissiopn.