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Alvin Elchico

<div><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/compo-2.jpg" style="width:960px" class="fr-fic fr-dib"/></div><p>MANILA - A consumer group has criticized the recently announced deal among three of the Philippines&#x27; biggest energy players to build the country&#x27;s largest liquefied natural gas (LNG) facility.</p><p>The Power for People Coalition (P4P) said it is concerned over the joint venture of San Miguel Corporation (SMC), Manila Electric Company (Meralco), and Aboitiz Power Corporation, which allow Meralco and Aboitiz to acquire stakes in SMC’s liquefied natural gas (LNG) power plants in Batangas City.</p><div><a href="https://news.abs-cbn.com/business/2024/3/4/aboitiz-ang-pangilinan-sign-3-3-b-power-deal-932">Aboitiz, Ang, Pangilinan sign $3.3-B power deal</a></div><p>“In January, Meralco gave away 80 percent of its new power requirements to these two SMC gas plants based on terms that give consumers the short end of the stick. Now, we learn that Meralco, all this time, was intending to buy those plants, and would be directly benefiting from expensive costs of fuel passed on to consumers. This is clearly robbery in broad daylight,” P4P Convenor Gerry Arances said.</p><div><a href="https://news.abs-cbn.com/business/01/24/24/san-miguel-unit-puts-best-bid-for-meralco-power-supply" id="isPasted">San Miguel unit puts &#x27;best bid&#x27; for Meralco power supply</a></div><p>SMC, Aboitiz, and Meralco are also seeking to acquire the adjacent liquefied natural gas import and regasification terminal owned by the Atlantic Gulf &amp; Pacific Company with Linseed Field Power Corporation.</p><p>According to P4P, these moves are violative of the intentions of the Electric Power Industry Reform Act (EPIRA) to prohibit cross-ownership between the generation and distribution sectors and secure competition to ensure least-cost electricity for consumers while guarding against power sector abuses.</p><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="950" height="534" src="https://www.youtube.com/embed/iclXmQA8l_I?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div><p>But Aboitiz President and CEO Manny Rubio said the joint project will ensure energy security for Luzon as it will provide fuel for two major power plants with around 2,500 megawatts of power capacity.</p><p>Rubio said while many want renewables to be the main source of energy, they are not yet as cost-effective as baseload plants, which run 24/7.</p><div><strong>LNG ISSUE WITH ANOTHER SUPPLIER</strong></div><p>Meanwhile, Meralco Head of Regulatory Management Ronald Valles said consumers might face higher-priced electricity in the next months if its major supplier FirstGen decides to use liquid fuel instead of imported or local natural gas.</p><div><a href="https://news.abs-cbn.com/business/2024/2/14/meralco-to-comply-with-refund-ordered-by-erc-in-march-1924" id="isPasted">Meralco to comply with refund ordered by ERC in March</a></div><p>Despite assuring that it will pay all the expenses related to procuring imported liquified natural gas based on ERC rules, Meralco said FirstGas want an unequivocal pledge that it is going to be paid.</p><p>Meralco earlier said it is waiting for the decision of ERC on its urgent petition to allow the pass-through recovery from consumers of all lng-related procurement and incremental costs.</p><p>The ERC has yet to issue a ruling.</p><p>FirstGen and ABS-CBN Corp are both part of the Lopez Group of companies.</p><div><a href="//news.abs-cbn.com"><em>news.abs-cbn.com</em></a><em> is the official news website of ABS-CBN.</em></div>

<p>A consumer group has criticized the recently announced deal among three of the Philippines' biggest energy players to build the country's largest liquefied natural gas (LNG) facility.</p>

A consumer group has criticized the recently announced deal among three of the Philippines' biggest energy players to build the country's largest liquefied natural gas (LNG) facility.

Consumer group hits Aboitiz-Ang-Pangilinan energy deal

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Consumer group hits Aboitiz-Ang-Pangilinan energy deal

ABS-CBN News,

Alvin Elchico

Published Mar 07, 2024 06:10 PM PHT

Read More:

Ramon Ang

Manny Pangilinan

Aboitiz

power

electricity

LNG

natural gas

FirstGen

ERC

Power 4 People

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