MANILA, Philippines - San Miguel Energy Corp., a power unit of diversified conglomerate San Miguel Corp., has received regulatory clearance for 14 power supply deals across the country.
San Miguel Energy is the independent power producer administrator of 1,000 megawatts of the 1,294-MW Sual coal-fired thermal plant.
The regulatory approvals cover one power supply contract (PSC) and 13 energy supply contracts (ESC) with Ilocos Sur Cooperative Inc., Pampanga Electric Cooperative Inc., First Laguna Electric Cooperative, Nueva Vizcaya Electric Cooperative, Mountain Province Electric Cooperative, Ilocos Norte Electric Cooperative, Sorsogon II Electric Cooperative, Pangasinan III Electric Cooperative Inc., Tarlac I Electric Cooperative, and Kalinga-Apayao Electric Cooperative.
The PSC covers the supply of 30,000 kilowatt hours to the Pampanga II Electric Cooperative Inc. for a five-year period. PECI II supplies electricity to six municipalities in the province.
In seperate decisions, the power regulator made permanent the provisional authority given to San Miguel Energy’s ESCs with the 13 electric cooperatives (ECs). This will allow the power firm to collect recovery charges for its invested capital as Sual IPPA from these ECs beyond the contracted period.
Of the 13 contracts, 10 cover a two-year period supply from 2010 to 2012.
San Miguel Energy’s deal with Nueva Ecija II- Area 1 Electric Cooperative is effective for three years while its contract with Angeles Electric Cooperative is for two years and four months.
Meanwhile, the ESC with Peninsula Electric Cooperative is only for one year.