Meralco has been compelled to source higher-priced electricity from the Wholesale Electricity Spot Market to plug the gap on its baseload capacity needs.
Power utility giant Manila Electric Company has been compelled to source higher-priced electricity from the Wholesale Electricity Spot Market to plug the gap on its baseload capacity needs due to the cessation of supply from the Ilijan gas-fired power facility of South Premiere Power Corporation of the San Miguel group.
He added that spot market prices had escalated even further this week and in recent trading days because of the series of ‘yellow alerts’ that strained the power system; hence, that is expected to trigger spikes in settlement prices also at the WESM. The Meralco executive, nevertheless, sounded off that “the cancellation of today’s yellow alert and declining demand as we approach holidays will lead to lower WESM prices.”
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