Energy Development Corp. (EDC) and MORE Electric and Power Corp. asked the Energy Regulatory Commission (ERC) to approve their 5-year power supply agreement (PSA). The two companies filed a joint application with the ERC. They are asking the agency to allow them to implement their PSA for the supply of 20 megawatts (MW) at a levelized cost of P6.1008 per kilowatt hour.
The rate, they said, is lower by P0.2533 per kWh in the generation rates of MORE Power compared to sourcing from the Wholesale Electricity Spot Market.
"Such reduction will be enjoyed by the consumers of MORE Power should the PA be duly and timely granted," they said.
MORE Power previously sourced a portion of its requirements from the Power Sector Assets and Liabilities Management Corp. (PSALM). A 20MW portion of MORE Power's contract with PSALM is what is set to be supplied under the PSA with EDC.
