Aboitiz Power Corp. said its bunker-C fired diesel power plant in Navotas operated by Therma Mobile Inc. (TMO) will be on reserve shutdown due to the absence of a power supply agreement (PSA) approved by the Energy Regulatory Commission (ERC).
In a disclosure to the Philippine Stock Exchange, the company said it has notified Manila Electric Co. (Meralco) it will be disconnected from the latter’s system starting yesterday, and that it will also deregister as a trading participant in the Wholesale Electricity Spot Market effective July 15, 2020.
AboitizPower said it has sent notices to the Philippine Electricity Market Corp., Independent Electricity Market Operator of the Philippines, Department of Energy, National Grid Corporation of the Philippines and the ERC.
In April 2019, TMO signed a PSA with Meralco for one year which was not renewed , leaving the facility with a combined gross capacity of 242 megawatts (MW) without any contract.
