Sta. Rita gets 6-month extension, Malampaya gas to support Ilijan
The Energy Regulatory Commission has extended Meralco's power purchase agreement with First Gen Corp for the Sta. Rita plant until 2026. This move aims to lower consumer costs and improve fuel security by sharing Malampaya gas with the Ilijan plant.
Why it matters
It addresses energy security and electricity pricing, which are significant political and economic issues for consumers in the Philippines.
From AB Capital's The Opening Bell: Three Moves
The Energy Regulatory Commission (ERC) approved a six-month extension of Meralco's (MER) power purchase agreement (PPA) with First Gen Corp. (FGEN) for the 1,200MW Sta. Rita plant to Dec. 25, 2026, with negotiated terms expected to save consumers P4.2 billion, or P0.36/kWh, from September to December. As part of the extension, FGEN will also share its Malampaya gas allocation with the 1,200MW Ilijan plant (owned by a consortium of MGen, Aboitiz Power (AP) and San Miguel Corp. (SMC)) starting September.
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