Excellent Energy Resources, Inc. (EERI) said it plans to resolve the issues regarding its 1,275-megawatt combined cycle power plant in Batangas by end-May 2025 and deliver its committed capacity to Manila Electric Co. under their power supply agreement.
EERI made the comment in response to the call of the Department of Energy (DOE) on the delayed full capacity under the PSA, which should have been delivered by December 2024.
Meralco and EERI signed a PSA covering 1,200 MW of baseload capacity during a previously-held competitive selection process last year.
Meralco awarded EERI the PSA for its offer of P7.1094 per kilowatt-hour in terms of total delivered levelized cost of electricity, VAT inclusive.
“The EERI power plant has achieved significant milestones with units 1 and 2 successfully completing the testing and commissioning process and being issued the final certificate of approval to connect [FCATC]. With a combined generating capacity of 850 MW, these units are already fully operational and can now generate power,” said EERI president and chief executive Yari Miralao.
Miralao said unit 3, with a capacity of 425 MW, has recently undergone testing and commissioning but is still awaiting the issuance of its FCATC.
He said the target is to address and resolve the concerns of the power plant by May 30, 2025.
“With the continued support from Department of Energy, National Grid Corporation of the Philippines and Meralco, we remain committed to ensuring that the facility can reach full operational capacity at the earliest possible opportunity,” he said.
DOE Undersecretary Felix William Fuentebella said delays in the delivery of the supply under the PSA “will be more pressure in the electricity spot market.”
DOE assistant secretary Mario Marasigan said while the PSA mandates replacement power, the capacity that Meralco and EERI will secure to fulfill its commitment would be coming from existing facilities which should be serving different markets.