Thursday, September 28, 2023
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Special Pages
    • Pets
    • Tech
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • On the Road
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Cravings
    • Environment & Sustainability
    • Agriculture
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
    • Gallery
      • Photos
      • Videos
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Special Pages
    • Pets
    • Tech
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • On the Road
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Cravings
    • Environment & Sustainability
    • Agriculture
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
    • Gallery
      • Photos
      • Videos
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Business

SMC offers Ilijan plant’s capacity to Meralco at P1 per kWh

Alena Mae S. FloresbyAlena Mae S. Flores
December 4, 2022, 6:40 pm
in Business, Power & Tech
Reading Time: 2 mins read
A A
Share on FacebookShare on TwitterShare on Email

San Miguel Corp. said Sunday power unit San Miguel Global Power Corp. offered to make the entire capacity of its 1,200-megawatt Ilijan natural gas plant available to Manila Electric Co. for a fraction of its capital cost.

SMC said the move would help keep electricity prices as low as possible for consumers while ensuring a steady power supply in the coming months.

SMC president Ramon Ang said the offer, covering the full capacity of the Ilijan plant that historically accounted for 10 percent to 12 percent of Luzon’s net dependable capacity, would only cost Meralco a minimal P1 per kilowatt-hour in capital recovery fee, or half of its capital cost on the facility.

This means that the power costs for households from the facility would be much lower compared to prevailing prices from coal power generation.

Ang said SMCGP, through subsidiary South Premiere Power Corp., had initial discussions with Meralco, as both firms were committed to helping consumers weather rising commodity prices, including power.

“As we have said in the past, we will continue to look for ways to help make sure consumers will still have some protection from the effects of skyrocketing global fuel prices. This is one of the best and most direct ways we can show solidarity with our people in this time of crisis,” said Ang.

“Because of unforeseen global events such as the Russia-Ukraine war, fuel prices are at unprecedented highs, and supply is tight. We are in a crisis, and this is a shared burden by all Filipinos―power consumers, the power sector, government. By immediately foregoing returns, we continue to carry our share of the burden while getting just enough to make sure plant operations continue andremain sustainable,” he said.

Ang said to help address fuel constraints, SMCGP was also offering to help source the fuel for the Ilijan facility ―whether from its allocation of Malampaya gas or liquid fuel—which Meralco would pay for.

Ang said SMCGP was also willing to work with Meralco in using its 70 petajoules banked gas it acquired from Philippine National Oil Company at a cost much lower than the prevailing cost of coal power generation.

He said this would give Meralco the flexibility to manage power generation costs and ensure an adequate power supply.

Ang said the company also expected the completion of an LNG terminal facility it tolled by March 2023, according to most recent construction updates.

The company contracted the facility to receive, store and re-gasify commercial LNG, but pandemic restrictions and the Russia-Ukraine war delayed the project.

The Department of Energy earlier said it expected a power supply deficit in Luzon unless the Ilijan power plant was reactivated as part of the energy mix.

Tags: Ilijan natural gas plantManila Electric Co.MeralcoSan Miguel Corp.San Miguel Global Power Corp.
ADVERTISEMENT
Alena Mae S. Flores

Alena Mae S. Flores

Related Posts

Cebu Pacific eyes Boeing planes as Airbus engine issue affects fleet

byDarwin G. Amojelar
September 28, 2023, 7:35 pm
0
8
No-hassle travel hacks with budget-friendly accommodation

Cebu Air Inc., the operator of low-cost carrier Cebu Pacific, said Thursday it plans to purchase narrow-body aircraft from US...

Read more

PH improves 3 spots to rank 56th in global innovation index

byOthel V. Campos
September 28, 2023, 7:30 pm
0
8
PH ranks 9th globally in IP innovation ranking

The Philippines climbed three spots to rank 56th in the Global Innovation Index (GII) 2023 out of 132 economies included...

Read more

Foreign tourists reached nearly 4m as of Sept. 27 in line with 2024 goal

byOthel V. Campos
September 28, 2023, 7:25 pm
0
8
CONCEPCION INDUSTRIAL CORPORATION: Notice of the Annual Stockholders’ Meeting

Department of Tourism (DOT) Secretary Christina Frasco said Thursday international visitor arrivals reached 3.97 million as of Sept. 27, representing...

Read more

SEC streamlines disclosure requirements

byJenniffer B. Austria
September 28, 2023, 7:20 pm
0
8
SEC files charges against four firms soliciting investments

The Securities and Exchange Commission (SEC) eased the disclosure requirements for companies seeking to raise funds through the capital market....

Read more

Vivant unit signs contract with Bataan solar developer

byAlena Mae S. Flores
September 28, 2023, 7:15 pm
0
8
Vivant unit signs contract with Bataan solar developer

COREnergy Inc., a wholly-owned subsidiary of Vivant Energy Corp., signed a 20-year power supply agreement with Samal Solar Renewable Energy...

Read more

Stocks extend advance on bargain hunting

byJenniffer B. Austria
September 28, 2023, 7:10 pm
0
8
Stock market surges; PLDT, Globe advance

Philippines stocks extended its climbed to sixth consecutive trading day on continued bargain hunting and foreign buying. The Philippine Stock...

Read more

Print Edition

View More

Recent Posts

  • Real estate winners
  • Energy summit
  • Tudor’s De Kleijn tops stage 8, Carr keeps Langkawi leadership 
  • Blazers trade Lillard to Bucks
  • Marcos hails work of outstanding Filipinos
  • IMF Meeting
  • LRT to deploy more trains to cater to more passengers during Yuletide
  • Villar: Farmers need more support on food security

Advertisement

Latest News

IMF Meeting

byManila Standard
September 28, 2023, 8:28 pm
0
8
US Republican hopefuls slam Trump for debate no-show

Speaker Ferdinand Martin G. Romualdez (center, left side) discusses with a visiting team from the International Monetary Fund (IMF) the...

Read more

LRT to deploy more trains to cater to more passengers during Yuletide

byDarwin G. Amojelar
September 28, 2023, 8:25 pm
0
8
LRT 1 assured of 120 new cars

Light Rail Manila Corporation (LRMC), the operator of LRT Line 1 said it will deploy more trains starting October 1...

Read more

Villar: Farmers need more support on food security

byMacon Ramos-Araneta
September 28, 2023, 8:20 pm
0
8
Villar lauds humanitarian efforts of Filipino socio-civic group in PH

Senator Cynthia Villar called on the government to support Filipino farmers to have access to safe and nutritious food. This...

Read more

After repairs, NLEX set to open SCTEX Pasig Potrero bridge

byDarwin G. Amojelar
September 28, 2023, 8:15 pm
0
8
NLEX installs solar panels at toll plazas

NLEX Corporation said it is set to reopen the SCTEX Pasig Potrero bridge to all vehicle classes on Friday after...

Read more

Cruise missiles to nukes: North Korea’s arsenal

byAFP
September 28, 2023, 8:10 pm
0
8
Southwoods nails Seniors’ Fil golf crown

Seoul – North Korea has enshrined its status as a nuclear power in its Constitution, with leader Kim Jong Un...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Pets
  • Tech
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Cravings
  • Environment & Sustainability
  • Agriculture
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Gallery
    • Photos
    • Videos
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App