QUEZON CITY, Philippines — San Miguel Global Power Holdings Corporation (SMCGP) intends to terminate its power supply agreement (PSA) with Meralco should the Energy Regulatory Commission (ERC) refuse to act on their petition for a temporary rate hike. SMCGP filed the petition after reportedly incurring a combined PhP 15 billion loss from its Sual, Pangasinan coal-fired power plant and Ilijan, Batangas fossil gas plant.
Reacting to this, Greenpeace campaigner Khevin Yu said:
“San Miguel and Meralco’s financial maneuvering over its dirty energy plants is clear evidence of our over-reliance on fossil fuels — exposing energy-generating companies to volatile costs. Rather than enabling a genuine shift to clean energy, they resolve to pass the burden of these costs onto electric consumers.
The ERC must remain firm in prioritizing the welfare of consumers, by ensuring that electricity prices will not drastically increase to compensate for companies’ dirty, destructive, and expensive energy generation.
Moreover, the worsening energy crisis in the country should be a wake-up call for our government. Our continued reliance on imported fossil fuels, such as coal and fossil gas, and the distraction of the costly and dangerous nuclear energy, are the opposite of the progress the new administration has promised us — setting us back in our quest for economic growth and climate action. Instead, we demand our government to expedite a just transition towards renewable energy, a ready and domestic power source that is much cleaner, cheaper, and more efficient than the status quo.
Only in prioritizing long-term solutions and moving away from detrimental palliatives would we truly see this administration’s serious commitment towards addressing our deeply-rooted energy woes.”
Media Contact:
Maverick Flores, Communications Campaigner
Greenpeace Philippines | [email protected] | +63 9176211552
Karl Santos, Communications Campaigner
Greenpeace Philippines | [email protected] | +63 9999932058