Meralco targets 2,500-MW portfolio

Meralco hopes to construct 2,500 to 3,000 megawatts of diversified power generation portfolio to meet its supply over the medium term.

By drawing power from its own generation plants, Meralco is expecting that it would be able to drive down electricity prices for its customers, especially those in the captive bracket which shall remain under its charge for a longer period after the kick-off of open access in the restructured power industry.

The investment blueprint presented by the company to the Joint Congressional Power Commission (JCPC) clocked up capacity installations of up 2,500 megawatts from 2015 to 2020.

Meralco Chairman Manuel V. Pangilinan indicated though that this could go up to 3,000 megawatts depending on how supply-demand dynamics would shape over the years.

Meralco president Oscar S. Reyes has apprised the oversight congressional body that their targeted generation facilities would initially be fueled by coal; but the longer-term installations would allow them to explore other technologies such as liquefied natural gas and even renewable energy sources such as hydro and wind.

In anticipation of the lapse of its supply contract with NPC by this yearend, the company has shielded itself with seven-year power supply agreements that have been sealed with various generation companies. All these have been filed for regulatory approvals.

The 2,800-MW contracted capacities will replace the supply chunk that will be voided by the expiration of Meralco’s deal with the state-owned power firm.

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