THE Energy Regulatory Commission (ERC) has approved the power supply agreement (PSA) jointly applied for by the country’s largest power distribution utility Manila Electric Co. (Meralco) and Solar Philippines Tanauan Corp. (SPTC). In its decision promulgated on Feb. 28, the commission said it had approved the applicable rate applied for by the two entities at P5.39 per kilowatt-hour (kWh) and subject to a 2% annual escalation as provided in the agreement.
