The Energy Regulatory Commission (ERC) will consider a petition from Manila Electric Co. next month. (Meralco) to approve its capital expenditure (capex) program of 2.34 billion pesos for its expansion projects to be implemented along with the relocation of its facilities affected by government projects.
“Finding that the said application is sufficient in form and with the payment of the necessary fees, the Commission hereby establishes it for determining compliance with the requirements of jurisdiction, explanatory presentation, pre-trial consultation and presentation of evidence in the following timeframes and an online platform for their conduct,” the ERC order says. published on July 8 last year.
The agency will determine Meralco’s eligibility on August 23 and will hold a pretrial meeting on August 30.
Meralco’s application covers the following projects to be implemented in conjunction with the relocation of facilities affected by Department of Transportation’s Build, Build, Build projects.
These are 502.13 million pesos for PNR North 1 related projects (Tutuban-Malolos), 127.46 million pesos for PNR North 2 related projects (Malolos-Clark), 421.02 million pesos for PNR related projects south. Commuter flight (Solis-Calamba) and 1.29 million pesos for the project associated with PNR South Long Haul (Manila-Sorsogon, Batangas).
“It is essential that the construction and implementation of the Meralco projects stay within the affected facility reduction schedule, and that both be completed within the appropriate timeframes, to avoid unnecessary costs and resources and to ensure that relocation of the affected facilities and Meralco projects is economically viable and optimal,” they said. in company.
The utility company said these projects are to be implemented in phases at the same time as underground construction work is underway in preparation for the relocation of Meralco’s existing facilities. Thereafter, Meralco will permanently install electrical equipment at any location corresponding to the right-of-way to be provided by the Philippine National Railways (PNR).
If these projects are not implemented, Meralco said there could be multiple power outages due to the construction of additional underground civil works that would affect existing air facilities and could delay implementation of system requirements projects aimed at improving the reliability of the distribution system. .
“The system requirements designs are designed to meet projected peak demand, adequately serve both existing and future customers, de-critical feeder load and address contingency issues, all with the aim of maintaining a high level of safety, power quality. , Efficiency and System, Reliability of the Meralco Distribution Network System”.
Meanwhile, Meralco separately stated that it has been recognized as one of the most socially and environmentally responsible companies in the world.
UK-based FTSE Russell, a provider of global sustainability indices, has announced the inclusion of Meralco in the FTSE4Good index series, specifically the FTSE4Good Emerging Index and the FTSE4Good ASEAN 5 Index.
Meralco is the second energy company in the Philippines to be recognized by FTSE Russell for outstanding sustainability performance.
The FTSE4Good Index Series is a set of global sustainability indices that measure the performance of companies in key environmental, social and governance (ESG) areas such as climate change, labor standards and anti-corruption. It was designed to help market participants evaluate sustainable investment products, research environmentally and socially sustainable companies, and provide a transparent and evolving global ESG standard against which businesses can benchmark their performance.
To be included in the FTSE4Good index, an emerging market company must achieve an overall ESG rating of 2.9 or higher. According to the latest FTSE Russell assessment, Meralco received an ESG rating of 3.2, outperforming the Philippine and global energy sector averages.