MANILA, Philippines - Power utility giant Manila Electric Co. (Meralco) is seeking the approval of power regulators to upgrade its facilities.
In a petition filed with the Energy Regulatory Commission (ERC), Meralco said these upgrading activities are aimed at efforts to continuously reduce power interruptions within its franchise area
Meralco is the country’s largest privately-owned power distribution firm with over 4.6 million customers in Metro Manila, Bulacan, Cavite, Rizal, and parts of Batangas, Laguna, Quezon and Pampanga.
It is currently managed by the Lopez group and partly-owned by the biggest conglomerates in the country such as the Philippine Long Distance Telephone Co. and San Miguel Corp.
Based on its petition, Meralco asked the permission of the ERC to undertake at least five electric capital projects which were not included in its previous applications for upgrade.
These projects are: the replacement of power transformer banks at the Sta. Mesa and Balintawak substation; the uprating of a power transformer bank at the Sta. Mesa substation; the expansion of the First Philippine Industrial Park substation in Batangas; and the construction of a LIIP-ROHM 115-kiloVolt line for the People’s Technology Complex in Cavite.
Meralco told the ERC that these projects were not included in the previously filed petition for performance-based regulation (PBR) in the middle of the year because of unforeseen circumstances.
The PBR is a rate-setting scheme is internationally-accepted and is being implemented by Meralco. This rate mechanism provides for some incentives and penalties for Meralco based on its performance.