Articles worth reading
Honda factory in Laguna

Honda factory closure affects 387 workers in Laguna

account_balanceMetro Manila access_time4 days ago

The closure of the assembly plant of Honda Cars Philippines Inc. in Sta. Rosa, Laguna will affect 387 workers. The affected workers staged a protest rally in front of the facility. Christopher Oliquino, head of RF Union of Honda Employees, said they...

Metro Manila News

Meralco

Meralco power supply deals to bring down power rates

account_balanceMetro Manila chat_bubble_outline0 Comments

Consumers are expected to save around P0.28 per kilowatt (kWh) as the Manila Electric Company (Meralco) executes new power supply agreements with its winning suppliers.

In a statement, the Meralco announced on Monday the three “best bids” it received for the supply of 1,200 megawatts (MW) effective December 26, 2019 for a term of 10 years.

Once the new supply agreements, which can lower generation charges, are implemented, Meralco consumers are expected to save PHP9.46 billion annually for 10 years.

The electric distribution utility company said the “best bids” were those submitted by PHINMA Energy Corporation, San Miguel Energy Corporation, and South Premiere Power Corporation.

PHINMA Energy Corporation offered to supply Meralco 200 MW with an all-in headline rate of PHP4.7450 per kilowatt hour (kWh) and computed all-in levelized cost of electricity (LCOE) of PHP4.8849/kWh; San Miguel Energy Corporation for 330 MW at all-in headline rate of PHP4.6314/kWh and computed all-in LCOE of PHP4.9299/kWh; and South Premiere Power Corporation for 670 MW with an all-in headline rate of PHP4.6314/kWh and computed all-in LCOE of PHP4.9300/kWh.

These bids are much lower than the all-in headline rate, inclusive of value-added tax (VAT), of PHP4.9196/kWh and computed all-in LCOE PHP5.3694/kWh reserve prices pre-determined by Meralco based on recently Energy Regulatory Commission (ERC)-approved contracts and disclosed only upon the opening of bids.

Meralco, in a statement, said the resulting prices from the competitive selection process (CSP) are significantly lower than their average generation cost today of around PHPP5.88 per kWh.

It clarified that the all-in rate already includes line rental and VAT, and the cost of replacement power for all plant outages.

The generator companies will also pay a fine if they are unable to deliver power, which will be used to reduce the generation cost to the consumers.

Pursuant to the instructions to prospective bidders, the “best bids” will now undergo post-qualification.

The Third Party Bids and Awards Committee is expected to issue the respective notices of award in favor of those who satisfactorily passed post-qualification on Tuesday, to be followed by the signing of the power supply agreements with Meralco within the week.

date_rangeDate Published
5 months ago
shareShare article
folder_openArticle tags
content_copyCategorized under

Share your thoughts with us

Related Articles

ABS-CBN

ABS-CBN apologizes for not airing some Duterte ads

account_balanceMetro Manila chrome_reader_mode3 days ago

ABS-CBN president and CEO Carlos Katigbak apologized to President Rodrigo Duterte for the network's failure to air some political advertisements during the 2016 elections. Katigbak, however, pointed out that only P7 million worth of adverti...

Photo courtesy of: Manila DRRM Office

Chinese national injured in Manila gun attack

account_balanceManila chrome_reader_mode3 days ago

A 43-year-old Chinese businessman was injured after an unidentified gunman onboard a motorcycle shot him in his car along along Padre Burgos Avenue in Ermita, Manila on Feb. 23. Police identified the victim as Wenyan Shao, 43, businessman, a re...

Veterans of the February 1986 EDSA Revolution, including former Vice President Jejomar Binay, former Senators Rene Saguisag and Sergio Osme%uFFFDa III, and former Tourism Secretary Antonio Gonzales, gathered on Tuesday at the Ninoy Aquino statue in Makati to commemorate the 34th anniversary of the peaceful uprising that toppled the Marcos dictatorship

People Power veterans lead celebration of 34th anniversary of the peaceful uprising in Makati

account_balanceMakati chrome_reader_mode2 days ago

Veterans of the February 1986 EDSA Revolution, including former Vice President Jejomar Binay, former Senators Rene Saguisag and Sergio Osmeña III, and former Tourism Secretary Antonio Gonzales, gathered on Feb. 25 at the Ninoy Aquino stat...

7 Metro Manila cops fail drug test

account_balanceMetro Manila chrome_reader_mode5 days ago

The National Capital Region Police Office (NCRPO) said seven cops assigned in Metro Manila tested positive for illegal drug use. NCRPO director Police Maj. Gen. Debold Sinas said this was the result of the random drug tests conducted on around 6,000...

Honda factory in Laguna

Honda factory closure affects 387 workers in Laguna

account_balanceMetro Manila chrome_reader_mode4 days ago

The closure of the assembly plant of Honda Cars Philippines Inc. in Sta. Rosa, Laguna will affect 387 workers. The affected workers staged a protest rally in front of the facility. Christopher Oliquino, head of RF Union of Honda Employees, said they...

The Catholic Bishops Conference of the Philippines (CBCP)

Priests to avoid forehead marking on Ash Wednesday

account_balanceMetro Manila chrome_reader_mode6 days ago

The Catholic Bishops’ Conference of the Philippines (CBCP) has issued liturgical guidelines for the Lenten season as a precautionary measure to prevent the transmission of the coronavirus disease or COVID-19.  According to CBCP, the sprin...

Advertisement

×
Isko opposes privatization of Manila properties SMC's P1-B Tullahan River dredging seen to mitigate floods Pasig rewards outstanding athletes with cash incentives Duterte delivers message on 1986 People Power anniversary PH observes EDSA People Power anniversary Skyway 3 construction to close lanes at Balintawak Interchange Send Press Release MNC Facebook Page MNC Twitter Page MNC Instagram Page LGU Spotlight Barangay Front Business Sports Entertainment Metro Gen Metro Feature