'Pay Up Now' - NGCP, Power Generators Press Meralco

Article excerpt

System operator National Grid Corporation of the Philippines (NGCP) and some power generators have sent separate demand letters to Manila Electric Company (Meralco) for it to immediately settle dues on a transmission charge component and power supply purchases. In a letter to Meralco treasurer Rafael L. Andrada, NGCP sought the settlement of P124.500 million that was billed to the utility firm in November billing. NGCP demands the immediate settlement of the above-mentioned amount with interest within five days from your receipt of this letter, NGCP head of revenue and regulatory affairs Ma. Cynthia Y. Manrique said in her letter dated January 2, 2014. The transmission firm further said to Meralco that your failure to do so will compel us to commence legal action to protect NGCPs rights and interest. Meralcos supply and service procurements for November had been covered by its P4.15 per kilowatt-hour (kWh) rate hike that was stopped for pass-on because of the Supreme Courts temporary restraining order. Similarly, the power generation subsidiaries of San Miguel Corporation prodded Meralco to pay the deferred portion of its supply purchases for replacement power relative to their power supply agreements (PSAs) covering the Sual and Ilijan plants. These amounted to P856.794 million for Ilijans South Premiere Power Corporation; and P8. …