Power retailer Manila Electric Co. expressed willingness to comply with the Supreme Court ruling ordering energy companies to undergo a competitive selection process for power supply agreements.
“We have to follow the decision of the Supreme Court. I think ERC [Energy Regulatory Commission]…provide us the generators the terms of reference of the CSP,” Meralco chairman Manuel Pangilinan said.
Meralco signed power supply agreements with seven generators in April 2016 to secure 3,551 megawatts of capacity needed in its franchise area that became the subject of the Supreme Court case.
The SC ruled that all PSA submitted by distribution utilities to ERC on or after June 30, 2015 should undergo a competitive selection process”•a form of competitive public bidding for the purchase of electricity by DUs.
The decision was in connection with the case filed by the Alyansa Para Sa Bagong Pilipinas.
Pangilinan said that with the high tribunal’s decision, the ERC needed to review the pending PSAs which involves a total capacity of 7,000 MW.