Rate paid Therma Mobile was ERC-okayed, PSA-based
Please allow us to clarify the reference to Therma Marine in the news article titled “Steep price spike on WESM questioned” (News, 2/18/14).
The Power Supply Agreement (PSA) that the article is referring to is between Meralco and Therma Mobile Inc. (TMO), and not Therma Marine Inc.
Contrary to the report, TMO did not buy any energy from Sual or any other generator. TMO is a generator and not an aggregator. It is supplying power to Meralco from its own diesel power barges moored in Navotas.
The only available capacity for the months of November 2013, December 2013 and January 2014 was 100 MW, and TMO delivered this to Meralco. The balance of 130 MW will only be available by mid-2014 when the new and additional interconnection facility shall have been completed.
Under its capacity-based contract, Meralco has full-dispatch control of the pricing and volume offers to the Wholesale Electricity Spot Market (WESM). TMO is only paid the rate approved by the Energy Regulatory Commission (ERC) and covered by the PSA with Meralco.
Thank you very much and we hope this clarifies the matter.
—JOSE VENANCIO P. BATIQUIN,
president and chief
operating officer,
Therma Mobile Inc.,
Brgy. Northbay Boulevard-North, Navotas City
I am sorry for the confusion in the name. The public should see the whole picture when the Market Surveillance Committee of the WESM finally releases its full report on the trades in those fateful months of November and December 2013.
—DAVID CELESTRA TAN,
contributor, Inquirer
