Meralco Turns Renewables
Manila Electric Co. (Meralco) has took their steps for cleaner energy as they invite renewable energy suppliers to bid for their 85 MW renewable energy plan to challenge a proposal priced at P3.50 per kilowatt hour (kWh).
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Although the proposed rate is yet to be divulged next week, Meralco consumers may enjoy 30 percent reduction in power rates if the proposed distribution utility will be approved.
“We hope this price will signal that solar battery farms offer the least cost for the Philippines, such that even fossil fuel companies will convert to solar, to improve their returns through lower costs,” Leviste added.
Meralco has pending applications with the Energy Regulatory Commission for the approval of power supply agreements with Solar Philippines and with PowerSource First Bulacan Solar Inc. for the supply of 50 MW each.
Sought for comment, Meralco spokesperson Joe Zaldarriaga only said the CSP for the 85 MW was still ongoing and has yet to be concluded.