The country’s largest energy distributor, Manila Electric (Miralco), is ready to generate electricity from the Bataan Nuclear Power Plant (BNPP) if the government decides to revive and resume operations of the stalled facility.
“Miralco will positively consider contracting out affordable and competitive supply from generation companies including BNPP if this is the case. [power plant] Ray Espinosa, President and CEO of Miralco, said at the company’s annual shareholder meeting.
“However, Miralco may not have the in-house competencies to operate and maintain the BNPP,” Espinosa added.
BNPP, located in Morong, Bataan, was among the big-ticket projects headed by Ferdinand Marcos Sr. The plant was left idle after its completion in 1984.
President-elect Ferdinand Marcos Jr. earlier indicated his intention to embrace nuclear power and reopen the $2.3 billion nuclear plant in hopes of lowering electricity prices.
Lower rates possible if. . .
Espinosa said that reducing the country’s energy rates is always possible as long as sound government policies are in place and new power plants will operate online to meet the growing demand.
He said, “Reducing electricity prices is always possible, but it includes considering many factors that affect the movement of electricity prices.”
Generation fees, which Espinosa said are the largest and most volatile part of the electricity bill, are driven by fuel prices, foreign exchange levels and the supply and demand situation.
What we need are sound government policies that can handle the movement of fuel prices and foreign exchange [fluctuations] and an environment that encourages the development and investment of the additional capacities provided by the new generation plants.”
Espinosa said that Meralco, for its part, has sought to purchase 850 megawatts of renewable energy to meet the supply requirements in the coming years, which were initially proposed to be met through a hybrid plant consisting of solar energy storage and battery.
Meralco PowerGen Corp. is looking forward. (MGen), the power generation arm of Meralco, is set to develop 1,500 megawatts of renewables to become coal-free by 2050 as the next generation of clean technologies technically and economically mature.
In May last year, MGen commissioned its 4.2 billion P4.25 billion 50 MW solar farm in San Miguel, Bulacan, marking the transition to low carbon energy.
He added, “There are three additional solar power plants currently under development and they are expected to start operations in the latter part of 2022 and into early 2023.”
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