Power Supply Procurement Plan

2023

MERALCO
Historical Consumption Data
MWh
Coincident Load Transm'n System
MWh Offtake WESM MWh Input MWh Output System Discrepancy
Peak MW Factor Loss Loss
Loss
2000 3,999.31 24,428,481 0 24,428,000 21,941,952 2,486,048 70% 0.00% 0.00% 10.18%
2001 4,139.88 25,410,366 0 25,410,000 22,770,071 2,639,929 70% 0.00% 0.00% 10.39%
2002 4,201.93 25,715,347 0 25,715,000 22,924,619 2,790,381 70% 0.00% 0.00% 10.85%
2003 4,420.00 26,833,888 0 26,833,888 23,922,003 2,911,881 69% 0.00% 0.00% 10.85%
2004 4,487.60 27,835,479 0 27,835,479 24,744,690 3,090,786 71% 0.00% 0.00% 11.10%
2005 4,588.00 27,774,992 0 27,774,992 24,939,797 2,835,195 69% 0.00% 0.00% 10.21%
2006 4,567.04 27,986,984 5,681,108 27,986,984 25,159,217 2,827,766 70% 0.00% 0.00% 10.10%
2007 4,774.29 29,104,342 4,496,980 29,104,342 26,296,099 2,808,249 70% 0.00% 0.00% 9.65%
2008 4,789.54 29,621,736 2,569,396 29,621,736 26,873,155 2,748,581 71% 0.00% 0.00% 9.28%
2009 4,910.19 29,921,964 3,845,076 29,921,964 27,346,292 2,575,671 70% 0.00% 0.00% 8.61%
2010 5,374.37 32,643,172 4,616,104 32,643,172 30,050,680 2,592,492 69% 0.00% 0.00% 7.94%
2011 5,283.41 32,790,050 2,419,617 32,790,683 30,380,008 2,410,674 71% 0.00% 0.00% 7.35%
2012 5,632.90 34,992,326 2,258,449 34,992,326 32,528,644 2,463,681 71% 0.00% 0.00% 7.04%
2013 5,927.72 36,270,635 1,948,906 36,270,635 33,761,691 2,508,944 70% 0.00% 0.00% 6.92%
2014 6,121.26 37,113,945 1,091,874 37,113,945 34,706,133 2,407,812 69% 0.00% 0.00% 6.49%
2015 6,298.44 39,154,405 1,986,149 39,154,405 36,619,770 2,534,635 71% 0.00% 0.00% 6.47%
2016 6,747.94 42,276,963 4,501,279 42,276,963 39,590,456 2,686,507 72% 0.00% 0.00% 6.35%
2017 6,973.36 44,050,065 5,106,569 44,050,065 41,448,752 2,601,313 72% 0.00% 0.00% 5.91%
2018 7,398.82 46,189,266 5,770,850 46,189,267 43,570,228 2,619,038 71% 0.00% 0.00% 5.67%
2019 7,740.31 48,652,746 4,206,824 48,652,746 45,958,425 2,694,326 72% 0.00% 0.00% 5.54%
2020 7,613.94 45,401,595 3,965,311 45,401,595 42,639,283 2,762,319 68% 0.00% 0.00% 6.08%
2021 7,808.39 47,754,742 3,380,581 47,754,742 44,960,604 2,794,156 70% 0.00% 0.00% 5.85%
2022 8,111.02 50,613,673 2,932,427 50,613,673 47,694,194 2,919,488 71% 0.00% 0.00% 5.77%

Peak Demand increased from 3,999.31 MW in 2000 to 8,111.02 MW in 2022 with a CAGR of 3.3%. MWh Offtake increased from
24,428,481 MWh in 2000 to 50,613,848 MWh in 2022 with a CAGR of 3.4%. Within the same period, Load Factor ranged from 68% to
72% in 2000-2022, highly dependent on the changes in the sales mix among the different customer classes. Kindly note that the
information made available to Meralco only corresponds to MWh Offtake and Transmission Loss cannot be disaggregated from the MWh
Offtake, hence, MWh Offtake is equal to MWh Input.
 Historical Consumption
60,000,000 9,000.0
8,000.0
50,000,000
7,000.0
40,000,000 6,000.0

MWh
5,000.0

MW
30,000,000
4,000.0
20,000,000 3,000.0
2,000.0
10,000,000
1,000.0
0 0.0

Year

MWh Output MWh System Loss Coincident Peak MW

MWh Output increased by 6.1% in 2022, while MERALCO peak demand in 2022 reached 8,111.02
MW, 3.9% higher than the 7,808.39 MW in 2021. For comparison, Luzon grid peak demand went up
by a faster rate of 4.1%, from 2021’s 11,640 MW to 12,113 MW.

This 2023, peak demand in MERALCO’s system is expected to increase by 2.9%. As economic activity
normalizes, peak demand is expected to grow annually by an average of 4.3% per year from 2022 to
2032.

It should be noted that the long-term forecast of the movement of peak demand will also be affected by
how much renewable energy systems are introduced into the system; by the effectiveness of new
energy efficiency measures put in place; and, by the changes in consumption behavior arising from the
“new normal” brought about by the pandemic. The magnitude of these will only be realized as the
industry continues to develop.

Historical Losses
12.00%
10.00%
8.00%
6.00%
4.00%
2.00%
0.00%
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022

Year

Transm'n Loss System Loss

In 2022, system loss was recorded at 5.77%, affected by the changes in the sales mix among the
different customer classes. Given the current pandemic that is heavily affecting the country’s economic
activities, there had been marked decrease in industrial and commercial energy consumption coupled
by increased “higher-loss-to-serve” residential consumption due to remote learning and work-from-
home arrangements. Still, current system loss level continues to be well below the regulatory cap.

Previous Year's Shares of Energy Sales

Others
Industrial 0.45%
11.77%

Residential
Commercial 53.45%
34.33%

Residential customers accounted for 92.4% of total connections and 53.5% of captive energy sales in
2022. Meanwhile, commercial and industrial captive customers accounted for 34.3% and 11.8% of
captive energy sales in 2022, respectively, mainly due to the migration of more commercial and
industrial customers to the contestable market.

MWh Offtake for Last Historical Year

5,000,000
GN Power Dinginin
4,500,000 Power Sector Assets and Liabilities Management
PowerSource First Bulacan Solar Inc.
4,000,000 Solar Philippines Tarlac Corporation (Phase 1)
South Premiere Power Corp. - Ilijan Plant
3,500,000
First Gen Hydro Power Corporation
AC Energy Philippines, Inc.
3,000,000
South Premiere Power Corp. - Ilijan Plant
MWh

San Miguel Energy Corp. - Sual Plant

2,500,000
AC Energy Philippines, Inc. - SLTEC
San Buenaventura Power Ltd. Co.
2,000,000
First NatGas Power Corporation (FNPC - San Gabriel)

1,500,000 Panay Energy Development Corporation

FGP Corp. (FGP – San Lorenzo)

1,000,000 First Gas Power Corporation (FGPC – Sta. Rita)

Quezon Power Philippines Ltd. Co.
500,000 Self-generation Facilities
Net Metering Customers
0 Retail Electricity Suppliers
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
WESM
Month
The total Offtake for the last historical year shows that there was adequate supply to satisfy customers’
demand.

WESM Share Over Time

60,000,000
50,000,000
40,000,000
MWh

30,000,000
20,000,000
10,000,000
0
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
Year

MWh Offtake WESM

Purchase from WESM over time was generally used to supply energy to customers during critical
peak hours and occurrences of outages. Over the years, the share of WESM to the total annual
Offtake ranged from 3% to 12%.
Previous Year's Load Profile

Previous Year's Load Duration Curve

9,000.0
8,000.0
7,000.0
6,000.0
5,000.0
MW

4,000.0
3,000.0
2,000.0
1,000.0
0.0
0% 20% 40% 60% 80% 100%
Percent of the Time

MERALCO peak demand in 2022 reached 8,111 MW, 3.9% higher than the 7,808 MW in 2021. As
shown in the load duration curve, the minimum load for 2022 is 3,052.5 MW. Due to the difference of
time interval used for reporting, a difference between the actual peak demand (15-min interval) and the
maximum demand indicated in the hourly load profile can be observed.

Previous Year's Load for Peak MWh and MW Days

9,000.0 Solar Philippines Tarlac Corporation
(Phase 1)
PowerSource First Bulacan Solar, Inc.

8,000.0 South Premiere Power Corp. - Ilijan Plant

Energy Development Corporation

7,000.0 AC Energy Philippines, Inc.

First NatGas Power Corporation (FNPC -

San Gabriel)
6,000.0 FGP Corp. (FGP – San Lorenzo)

First Gas Power Corporation (FGPC –

5,000.0 Sta. Rita)
GN Power Dinginin
MW

San Miguel Energy Corp. - Sual Plant

4,000.0
AC Energy Philippines, Inc. - SLTEC

First NatGas Power Corporation (FNPC -

3,000.0 San Gabriel)
San Buenaventura Power Ltd. Co.

Quezon Power Philippines Ltd

2,000.0
FGP Corp. (FGP – San Lorenzo)

First Gas Power Corporation (FGPC –

1,000.0 Sta. Rita)
Retail Electricity Suppliers MW

Peak MWh Day

0.0
0:00
1:00
2:00
3:00
4:00
5:00
6:00
7:00
8:00
9:00
10:00
11:00
12:00
13:00
14:00
15:00
16:00
17:00
18:00
19:00
20:00
21:00
22:00
23:00

Peak MW Day

Time

Peak MW occurred on May 13, 2022. Peak daily MWh occurred on 1400H. As shown in the Load
Curves, the available supply is lower than the Peak Demand.
Forecasted Consumption Data
Retail
Existing Target MW
Coincident Contracted Pending Planned Electricity
Contracting Contracting Surplus /
Peak MW MW MW MW Suppliers
Level Level Deficit
MW

2023 Jan 7,099.58 3,035.19 1,405.00 0.000 2,624.15 68% 99% -35.24
Feb 7,326.58 3,035.19 1,405.00 0.000 2,721.82 66% 96% -164.57
Mar 7,670.42 3,035.19 1,105.00 0.000 2,658.54 61% 83% -871.69
Apr 8,091.87 3,035.19 1,955.00 0.000 2,521.29 54% 95% -580.39
May 8,345.58 3,035.19 1,955.00 0.000 2,659.13 53% 93% -696.26
Jun 8,274.64 3,035.19 1,955.00 0.000 2,633.80 54% 94% -650.65
Jul 8,030.95 3,035.19 1,955.00 0.000 2,531.39 55% 96% -509.37
Aug 7,973.36 3,035.19 1,625.00 0.000 2,693.35 57% 95% -619.83
Sep 7,944.15 3,035.19 1,955.00 0.000 2,894.30 60% 99% -59.67
Oct 7,910.77 3,035.19 1,955.00 0.000 2,640.01 58% 95% -280.58
Nov 7,846.51 3,035.19 1,955.00 0.000 2,691.76 59% 97% -164.56
Dec 7,768.90 3,035.19 1,955.00 0.000 2,776.50 61% 100% -2.21
2024 Jan 7,414.80 3,085.19 1,205.00 810.000 2,795.57 67% 110% 480.96
Feb 7,651.87 3,085.19 1,205.00 810.000 2,899.16 65% 107% 347.48
Mar 8,010.98 2,673.32 1,205.00 1,670.00 2,838.07 52% 107% 375.41
Apr 8,451.14 2,673.32 835.00 1,860.00 2,701.57 46% 93% -381.25
May 8,716.11 2,673.32 835.00 1,860.00 2,846.96 46% 91% -500.84
Jun 8,642.02 2,673.32 835.00 1,860.00 2,819.94 46% 92% -453.77
Jul 8,387.51 2,673.32 835.00 1,860.00 2,711.25 47% 95% -307.95
Aug 8,327.37 2,673.32 835.00 1,600.00 2,877.71 49% 94% -341.35
Sep 8,296.87 2,673.32 835.00 1,600.00 3,084.76 51% 98% -103.79
Oct 8,262.00 2,673.32 835.00 1,600.00 2,821.88 49% 94% -331.80
Nov 8,194.89 2,673.32 835.00 1,600.00 2,874.52 50% 96% -212.06
Dec 8,113.83 2,673.32 835.00 2,800.00 2,961.02 52% 122% 1,155.51
2025 Jan 7,753.22 2,673.32 285.00 2,800.00 2,967.38 56% 115% 972.47
Feb 8,001.12 2,673.32 285.00 2,800.00 3,076.98 54% 112% 834.18
Mar 8,376.61 2,673.32 285.00 2,400.00 3,017.11 50% 95% -1.18
Apr 8,836.86 2,673.32 285.00 2,400.00 2,879.91 45% 86% -598.63
May 9,113.93 2,673.32 285.00 3,000.00 3,033.08 44% 94% -122.53
Jun 9,036.46 2,213.32 285.00 3,000.00 3,004.37 37% 87% -533.77
Jul 8,770.33 2,213.32 285.00 3,000.00 2,889.33 38% 89% -382.69
Aug 8,707.44 2,213.32 285.00 3,000.00 3,061.22 39% 93% -147.91
Sep 8,675.55 1,110.97 285.00 3,000.00 3,275.44 21% 77% -1,004.14
Oct 8,639.09 1,110.97 285.00 3,000.00 3,002.75 20% 74% -1,240.38
Nov 8,568.91 1,110.97 285.00 3,000.00 3,056.64 20% 75% -1,116.31
Dec 8,484.15 1,110.97 285.00 3,000.00 3,145.49 21% 78% -942.70
2026 Jan 8,065.43 1,110.97 335.00 3,000.00 3,134.07 23% 90% -485.40
Feb 8,323.31 1,110.97 335.00 3,000.00 3,249.44 22% 88% -627.90
Mar 8,713.93 1,710.97 335.00 4,050.00 3,191.46 20% 105% 573.50
Apr 9,192.71 1,710.97 335.00 4,050.00 3,054.63 18% 94% -42.12
May 9,480.93 1,710.97 335.00 4,050.00 3,215.18 18% 93% -169.79
 Retail
Existing Target MW
Coincident Contracted Pending Planned Electricity
Contracting Contracting Surplus /
Peak MW MW MW MW Suppliers
Level Level Deficit
MW

Jun 9,400.35 1,710.97 335.00 4,050.00 3,184.84 18% 93% -119.54

Jul 9,123.50 1,710.97 335.00 4,050.00 3,063.68 18% 96% 36.14
Aug 9,058.08 1,710.97 335.00 4,050.00 3,240.17 19% 100% 278.05
Sep 9,024.90 1,710.97 335.00 4,050.00 3,460.59 20% 104% 531.66
Oct 8,986.98 1,710.97 335.00 4,050.00 3,179.25 19% 100% 288.24
Nov 8,913.97 1,710.97 335.00 4,050.00 3,234.09 20% 102% 416.08
Dec 8,825.80 1,710.97 335.00 4,050.00 3,324.80 20% 105% 594.96
2027 Jan 8,470.35 1,710.97 335.00 4,050.00 3,331.59 22% 113% 957.20
Feb 8,741.18 1,710.97 335.00 4,050.00 3,453.92 21% 110% 808.71
Mar 9,151.40 1,960.97 335.00 3,800.00 3,396.68 19% 107% 341.25
Apr 9,654.23 1,960.97 335.00 3,800.00 3,258.00 17% 96% -300.27
May 9,956.92 1,960.97 335.00 3,800.00 3,427.65 17% 94% -433.30
Jun 9,872.29 1,960.97 335.00 3,800.00 3,395.38 17% 95% -380.94
Jul 9,581.54 1,960.97 335.00 3,800.00 3,266.86 18% 97% -218.72
Aug 9,512.84 1,960.97 335.00 3,800.00 3,450.24 18% 101% 33.37
Sep 9,477.99 1,960.97 335.00 3,800.00 3,679.67 19% 106% 297.64
Oct 9,438.16 1,960.97 335.00 3,800.00 3,386.18 18% 102% 43.98
Nov 9,361.50 1,405.00 335.00 3,800.00 3,442.73 9% 94% -378.77
Dec 9,268.90 1,405.00 335.00 3,800.00 3,536.54 10% 98% -192.36
2028 Jan 8,829.00 1,405.00 335.00 3,800.00 3,513.73 10% 105% 224.74
Feb 9,111.29 1,405.00 335.00 3,800.00 3,642.43 10% 102% 71.14
Mar 9,538.89 1,405.00 335.00 4,430.00 3,586.51 9% 104% 217.62
Apr 10,063.00 1,405.00 335.00 4,430.00 3,447.08 8% 93% -445.92
May 10,378.51 1,405.00 335.00 4,430.00 3,624.98 8% 91% -583.53
Jun 10,290.29 1,405.00 335.00 4,430.00 3,590.92 8% 92% -529.37
Jul 9,987.24 1,405.00 335.00 4,430.00 3,455.66 8% 94% -361.57
Aug 9,915.63 1,405.00 335.00 4,130.00 3,644.80 9% 98% -400.83
Sep 9,879.30 1,405.00 335.00 4,130.00 3,881.82 9% 103% -127.48
Oct 9,837.79 1,405.00 335.00 4,130.00 3,577.94 9% 99% -389.85
Nov 9,757.87 1,405.00 335.00 4,130.00 3,635.82 9% 101% -252.06
Dec 9,661.35 1,405.00 335.00 4,130.00 3,732.11 9% 104% -59.25
2029 Jan 9,206.37 1,405.00 335.00 4,130.00 3,702.11 10% 112% 365.75
Feb 9,500.73 1,405.00 335.00 4,130.00 3,837.42 10% 109% 206.69
Mar 9,946.60 1,405.00 335.00 4,630.00 3,782.58 9% 103% 205.98
Apr 10,493.12 1,405.00 335.00 4,630.00 3,641.96 8% 93% -481.16
May 10,822.11 1,405.00 335.00 4,630.00 3,828.45 8% 91% -623.66
Jun 10,730.12 1,405.00 335.00 4,630.00 3,792.55 8% 92% -567.57
Jul 10,414.11 1,405.00 335.00 4,630.00 3,650.30 8% 94% -393.81
Aug 10,339.44 1,405.00 335.00 4,430.00 3,845.65 9% 95% -323.80
Sep 10,301.56 1,405.00 335.00 4,430.00 4,090.84 9% 99% -40.73
Oct 10,258.28 1,405.00 335.00 4,430.00 3,775.85 9% 95% -312.42
Nov 10,174.95 1,405.00 335.00 4,430.00 3,835.21 9% 97% -169.73
Dec 10,074.30 1,405.00 335.00 4,430.00 3,934.23 9% 100% 29.93
 Retail
Existing Target MW
Coincident Contracted Pending Planned Electricity
Contracting Contracting Surplus /
Peak MW MW MW MW Suppliers
Level Level Deficit
MW

2030 Jan 9,599.85 1,405.00 135.00 4,430.00 3,895.86 10% 115% 266.02
Feb 9,906.79 1,405.00 135.00 4,430.00 4,037.97 9% 112% 101.19
Mar 10,371.72 1,405.00 135.00 5,230.00 3,984.02 9% 106% 382.31
Apr 10,941.59 1,405.00 135.00 5,230.00 3,841.82 8% 95% -329.77
May 11,284.64 1,405.00 135.00 5,230.00 4,037.21 8% 93% -477.43
Jun 11,188.72 1,405.00 135.00 5,230.00 3,999.41 8% 94% -419.31
Jul 10,859.21 1,405.00 135.00 5,230.00 3,849.96 8% 97% -239.25
Aug 10,781.35 1,405.00 135.00 4,730.00 4,051.91 8% 98% -459.43
Sep 10,741.85 1,405.00 135.00 4,730.00 4,305.76 9% 102% -166.09
Oct 10,696.71 1,405.00 135.00 4,730.00 3,979.06 8% 98% -447.65
Nov 10,609.82 1,405.00 135.00 4,730.00 4,040.04 8% 100% -299.78
Dec 10,504.87 1,405.00 135.00 4,730.00 4,142.00 9% 103% -92.87
2031 Jan 10,009.53 1,405.00 135.00 4,730.00 4,094.92 9% 111% 355.39
Feb 10,329.57 1,405.00 135.00 4,730.00 4,244.04 9% 108% 184.48
Mar 10,814.34 1,405.00 135.00 5,430.00 4,190.78 8% 105% 346.44
Apr 11,408.53 1,405.00 135.00 5,430.00 4,046.60 8% 95% -391.93
May 11,766.22 1,405.00 135.00 5,430.00 4,251.17 7% 93% -545.05
Jun 11,666.21 1,405.00 135.00 5,430.00 4,211.43 7% 93% -484.78
Jul 11,322.64 1,405.00 135.00 5,430.00 4,054.57 8% 96% -298.07
Aug 11,241.45 1,405.00 135.00 5,030.00 4,263.53 8% 94% -407.92
Sep 11,200.27 1,405.00 135.00 5,030.00 4,526.52 8% 98% -103.75
Oct 11,153.20 1,405.00 135.00 5,030.00 4,187.50 8% 94% -395.70
Nov 11,062.60 1,405.00 135.00 5,030.00 4,250.23 8% 96% -242.37
Dec 10,953.18 1,405.00 135.00 5,030.00 4,355.36 8% 100% -27.82
2032 Jan 10,476.90 1,405.00 135.00 5,030.00 4,313.11 9% 107% 406.22
Feb 10,811.88 1,405.00 135.00 5,030.00 4,469.98 9% 104% 228.10
Mar 11,319.28 1,405.00 135.00 5,530.00 4,416.68 8% 102% 167.40
Apr 11,941.22 1,405.00 135.00 5,530.00 4,269.14 7% 92% -602.08
May 12,315.62 1,405.00 135.00 5,530.00 4,483.97 7% 90% -761.65
Jun 12,210.93 1,405.00 135.00 5,530.00 4,442.09 7% 91% -698.84
Jul 11,851.32 1,405.00 135.00 5,530.00 4,277.05 7% 93% -504.26
Aug 11,766.34 1,405.00 135.00 5,030.00 4,494.45 8% 90% -701.89
Sep 11,723.24 1,405.00 135.00 5,030.00 4,768.33 8% 94% -384.91
Oct 11,673.97 1,405.00 135.00 5,030.00 4,414.81 8% 91% -689.16
Nov 11,579.14 1,405.00 135.00 5,030.00 4,479.77 8% 93% -529.37
Dec 11,464.61 1,405.00 135.00 5,030.00 4,588.83 8% 96% -305.78

The Peak Demand was forecasted using the load factor approach and was assumed to occur on the
month of May every year due to seasonal increase in electricity consumption during summer months.
On the other hand, monthly Peak Demand is projected to be at its lowest on the month of January due
to cooler temperature. In general, Peak Demand is expected to grow at a rate of 4.3% annually over
the period of 2022 to 2032.

Deficit capacity, if any, represents critical peak demand which lasts for 2 to 3 hours only.
 Forecasted Supply vs Demand
14,000.0
12,000.0
10,000.0
8,000.0
MW
6,000.0
4,000.0
2,000.0
0.0

Apr

Apr
Sep

Aug

Sep

Aug
May
Oct

May
Oct
Nov

Feb

Dec

Nov
Jul

Feb

Dec
Jul
Mar

Mar
Jan
Jun

Jan
Jun
2023 2024 2025 2026 2027 2028 2029 2030 2031 2032
Month

Contracted MW Pending MW
Planned MW Retail Electricity Suppliers MW
Coincident Peak MW
 Forecasted Supply vs Demand
14,000.0

12,000.0

10,000.0

8,000.0
MW

6,000.0

4,000.0

2,000.0

0.0
Apr

Apr

Apr

Apr

Apr

Apr

Apr

Apr

Apr

Apr
Oct

Oct

Oct

Oct

Oct

Oct

Oct

Oct

Oct

Oct
Jan

Jul

Jan

Jul

Jan

Jul

Jan

Jul

Jan

Jul

Jan

Jul

Jan

Jul

Jan

Jul

Jan

Jul

Jan

Jul
2023 2024 2025 2026 2027 2028 2029 2030 2031 2032
Month

Retail Electricity Suppliers MW ERC Case No. 2004-74 ERC Case No. 2004-74
ERC Case No. 94-217 ERC Case No. 2014-076RC ERC Case No. 2018-013RC
ERC Case No. 2019-079RC ERC Case No. 2019-083RC ERC Case No. 2023-028RC
ERC Case No. 2023-031RC ERC Case No. 2023-094RC ERC Case No. 2023-095RC
ERC Case No. 2023-105RC Baseload (1,200 MW) Baseload (400 MW - 2024 IPSA)
Baseload (1,800 MW) Baseload (300 MW) Baseload (900 MW)
RE Baseload (30 MW) Baseload (600 MW) ERC Case No. 2004-74
ERC Case No. 2004-74 ERC Case No. 2018-013RC ERC Case No. 2023-014RC
ERC Case No. 2019-078RC ERC Case No. 2019-082RC ERC Case No. 2019-080RC
Mid-merit (500 MW) Mid-merit (300 MW) Mid-merit (200 MW)
ERC Case No. 2017-012RC ERC Case no. 2017-014RC ERC Case No. 2017-094RC
ERC Case No. 2019-023RC Peaking (260 MW - 2024 IPSA) Peaking (300 MW - 2028 IPSA)
Peaking (200 MW - 2029 IPSA) Peaking (500 MW - 2030 IPSA) Peaking (400 MW - 2031 IPSA)
Peaking (500 MW - 2032 IPSA) Coincident Peak MW

The forecasted supply considered a capacity allocation for baseload, intermediate and peaking supply
requirements that would result to a least generation cost for MERALCO's captive customers.
 Procurement Timing
6,000.0
5,000.0
4,000.0

MW
3,000.0
2,000.0
1,000.0
0.0

Sep

Sep

Sep

Sep

Sep

Sep

Sep

Sep

Sep

Sep
May

May

May

May

May

May

May

May

May

May
Jan

Jan

Jan

Jan

Jan

Jan

Jan

Jan

Jan

Jan
2023 2024 2025 2026 2027 2028 2029 2030 2031 2032
Month
Baseload (1,200 MW) Baseload (400 MW - 2024 IPSA)
Baseload (1,800 MW) Baseload (300 MW)
Baseload (900 MW) RE Baseload (30 MW)
Baseload (600 MW) Mid-merit (500 MW)
Mid-merit (300 MW) Mid-merit (200 MW)
Peaking (260 MW - 2024 IPSA) Peaking (300 MW - 2028 IPSA)
Peaking (200 MW - 2029 IPSA) Peaking (500 MW - 2030 IPSA)
Peaking (400 MW - 2031 IPSA) Peaking (500 MW - 2032 IPSA)

The first wave of supply procurement under the 2023 PSPP will be for (i) 1,200 MW Baseload, and (ii)
1,800 MW Baseload supply.

Contracting Levels
140%
120%
100%
80%
60%
40%
20%
0%
Sep

Sep

Sep

Sep

Sep

Sep

Sep

Sep

Sep

Sep
May

May

May

May

May

May

May

May

May

May
Jan

Jan

Jan

Jan

Jan

Jan

Jan

Jan

Jan

Jan

2023 2024 2025 2026 2027 2028 2029 2030 2031 2032
Month

Existing Contracting Level Target Contracting Level

The percent of Existing Contracting Levels shown in the graph only pertains to ERC approved contracts.
This does not include those granted with provisional authority/ interim relief and with pending ERC
approval. The percent of Targeted Contracting Level includes all contracted, pending and planned
supplies.
 MW Surplus / Deficit
1,500.00

1,000.00

500.00

0.00

-500.00

-1,000.00

-1,500.00

Feb

Feb
Apr

Mar

Apr

Mar
Sep

Aug

Sep

Aug
May
Oct

May
Oct
Jan
Jun
Nov

Dec
Jul

Jan
Jun
Nov

Dec
Jul
2023 2024 2025 2026 2027 2028 2029 2030 2031 2032
Month

The surplus/deficit in the contracted demand is attributable to the demand’s seasonality.

MWh System Transm'n

MWh Offtake MWh Output System Loss*
Loss* Loss**

2023 Jan 3,784,079 3,480,052 237,359 0.00% 5.58%

Feb 4,021,251 3,749,987 237,359 0.00% 5.58%
Mar 3,862,675 3,631,281 237,359 0.00% 5.58%
Apr 4,318,309 4,022,935 237,359 0.00% 5.58%
May 4,551,298 4,253,635 237,359 0.00% 5.58%
Jun 4,627,554 4,385,915 237,359 0.00% 5.58%
Jul 4,295,897 4,137,279 237,359 0.00% 5.58%
Aug 4,380,991 4,155,219 237,359 0.00% 5.58%
Sep 4,420,524 4,169,445 237,359 0.00% 5.58%
Oct 4,325,608 4,086,511 237,359 0.00% 5.58%
Nov 4,366,165 4,123,509 237,359 0.00% 5.58%
Dec 4,130,449 4,040,820 237,359 0.00% 5.58%
2024 Jan 3,975,071 3,617,326 243,186 0.00% 5.50%
Feb 4,176,221 3,897,337 243,186 0.00% 5.50%
Mar 4,058,202 3,774,179 243,186 0.00% 5.50%
Apr 4,486,988 4,181,201 243,186 0.00% 5.50%
May 4,728,960 4,420,905 243,186 0.00% 5.50%
Jun 4,808,224 4,558,319 243,186 0.00% 5.50%
Jul 4,463,808 4,300,232 243,186 0.00% 5.50%
Aug 4,552,216 4,318,856 243,186 0.00% 5.50%
Sep 4,533,308 4,333,656 243,186 0.00% 5.50%
Oct 4,434,763 4,247,656 243,186 0.00% 5.50%
Nov 4,534,654 4,286,005 243,186 0.00% 5.50%
Dec 4,302,022 4,200,835 243,186 0.00% 5.50%
2025 Jan 3,944,467 3,777,393 249,002 0.00% 5.40%
Feb 4,355,213 4,066,493 249,002 0.00% 5.40%
Mar 4,214,205 3,938,984 249,002 0.00% 5.40%
 MWh System Transm'n
MWh Offtake MWh Output System Loss*
Loss* Loss**

Apr 4,707,700 4,365,750 249,002 0.00% 5.40%

May 4,960,051 4,616,664 249,002 0.00% 5.40%
Jun 5,042,723 4,759,814 249,002 0.00% 5.40%
Jul 4,683,542 4,489,386 249,002 0.00% 5.40%
Aug 4,744,968 4,508,362 249,002 0.00% 5.40%
Sep 4,787,822 4,523,915 249,002 0.00% 5.40%
Oct 4,685,052 4,434,161 249,002 0.00% 5.40%
Nov 4,729,030 4,474,199 249,002 0.00% 5.40%
Dec 4,473,715 4,385,706 249,002 0.00% 5.40%
2026 Jan 4,251,603 3,923,452 253,535 0.00% 5.30%
Feb 4,518,094 4,222,559 253,535 0.00% 5.30%
Mar 4,339,885 4,090,661 253,535 0.00% 5.30%
Apr 4,851,840 4,533,536 253,535 0.00% 5.30%
May 5,113,629 4,793,835 253,535 0.00% 5.30%
Jun 5,199,396 4,942,169 253,535 0.00% 5.30%
Jul 4,826,778 4,662,171 253,535 0.00% 5.30%
Aug 4,922,427 4,681,800 253,535 0.00% 5.30%
Sep 4,966,884 4,697,895 253,535 0.00% 5.30%
Oct 4,860,269 4,605,103 253,535 0.00% 5.30%
Nov 4,905,894 4,646,312 253,535 0.00% 5.30%
Dec 4,641,027 4,556,252 253,535 0.00% 5.30%
2027 Jan 4,448,440 4,104,541 265,277 0.00% 5.30%
Feb 4,727,273 4,419,649 265,277 0.00% 5.30%
Mar 4,540,805 4,281,033 265,277 0.00% 5.30%
Apr 5,076,466 4,742,570 265,277 0.00% 5.30%
May 5,350,378 5,014,156 265,277 0.00% 5.30%
Jun 5,440,117 5,169,426 265,277 0.00% 5.30%
Jul 5,050,244 4,877,935 265,277 0.00% 5.30%
Aug 5,150,323 4,898,835 265,277 0.00% 5.30%
Sep 5,196,841 4,915,551 265,277 0.00% 5.30%
Oct 5,085,288 4,818,729 265,277 0.00% 5.30%
Nov 5,133,026 4,861,585 265,277 0.00% 5.30%
Dec 4,855,893 4,768,284 265,277 0.00% 5.30%
2028 Jan 4,615,246 4,258,918 275,225 0.00% 5.30%
Feb 4,904,535 4,585,038 275,225 0.00% 5.30%
Mar 4,711,073 4,441,603 275,225 0.00% 5.30%
Apr 5,266,822 4,920,189 275,225 0.00% 5.30%
May 5,551,004 5,201,749 275,225 0.00% 5.30%
Jun 5,644,109 5,362,599 275,225 0.00% 5.30%
Jul 5,239,616 5,060,817 275,225 0.00% 5.30%
Aug 5,343,448 5,082,447 275,225 0.00% 5.30%
Sep 5,391,710 5,099,746 275,225 0.00% 5.30%
Oct 5,275,974 4,999,606 275,225 0.00% 5.30%
Nov 5,325,503 5,043,792 275,225 0.00% 5.30%
 MWh System Transm'n
MWh Offtake MWh Output System Loss*
Loss* Loss**

Dec 5,037,977 4,948,367 275,225 0.00% 5.30%

2029 Jan 4,708,509 4,416,172 285,352 0.00% 5.30%
Feb 5,084,992 4,753,175 285,352 0.00% 5.30%
Mar 4,899,720 4,604,931 285,352 0.00% 5.30%
Apr 5,475,918 5,101,119 285,352 0.00% 5.30%
May 5,770,556 5,392,930 285,352 0.00% 5.30%
Jun 5,867,087 5,559,442 285,352 0.00% 5.30%
Jul 5,447,710 5,247,006 285,352 0.00% 5.30%
Aug 5,540,054 5,269,327 285,352 0.00% 5.30%
Sep 5,590,092 5,287,236 285,352 0.00% 5.30%
Oct 5,470,097 5,183,692 285,352 0.00% 5.30%
Nov 5,521,449 5,229,257 285,352 0.00% 5.30%
Dec 5,223,343 5,131,597 285,352 0.00% 5.30%
2030 Jan 4,782,146 4,585,655 296,269 0.00% 5.30%
Feb 5,213,301 4,934,490 296,269 0.00% 5.30%
Mar 5,071,268 4,781,031 296,269 0.00% 5.30%
Apr 5,669,509 5,296,140 296,269 0.00% 5.30%
May 6,011,447 5,598,982 296,269 0.00% 5.30%
Jun 6,111,671 5,771,610 296,269 0.00% 5.30%
Jul 5,676,250 5,447,717 296,269 0.00% 5.30%
Aug 5,788,022 5,470,796 296,269 0.00% 5.30%
Sep 5,839,975 5,489,360 296,269 0.00% 5.30%
Oct 5,715,389 5,382,146 296,269 0.00% 5.30%
Nov 5,768,705 5,429,197 296,269 0.00% 5.30%
Dec 5,423,168 5,329,112 296,269 0.00% 5.30%
2031 Jan 4,985,903 4,787,098 309,256 0.00% 5.30%
Feb 5,510,939 5,150,558 309,256 0.00% 5.30%
Mar 5,326,881 4,990,718 309,256 0.00% 5.30%
Apr 5,951,346 5,527,984 309,256 0.00% 5.30%
May 6,270,665 5,843,816 309,256 0.00% 5.30%
Jun 6,375,283 6,023,761 309,256 0.00% 5.30%
Jul 5,920,776 5,686,466 309,256 0.00% 5.30%
Aug 6,037,447 5,710,529 309,256 0.00% 5.30%
Sep 6,058,348 5,729,851 309,256 0.00% 5.30%
Oct 5,928,301 5,618,289 309,256 0.00% 5.30%
Nov 5,983,955 5,667,089 309,256 0.00% 5.30%
Dec 5,660,877 5,564,140 309,256 0.00% 5.30%
2032 Jan 5,304,940 4,996,771 322,773 0.00% 5.30%
Feb 5,751,803 5,375,436 322,773 0.00% 5.30%
Mar 5,546,432 5,208,965 322,773 0.00% 5.30%
Apr 6,198,191 5,769,289 322,773 0.00% 5.30%
May 6,531,466 6,098,639 322,773 0.00% 5.30%
Jun 6,640,658 6,286,196 322,773 0.00% 5.30%
Jul 6,166,284 5,934,965 322,773 0.00% 5.30%
 MWh System Transm'n
MWh Offtake MWh Output System Loss*
Loss* Loss**

Aug 6,266,537 5,960,052 322,773 0.00% 5.30%

Sep 6,323,137 5,980,162 322,773 0.00% 5.30%
Oct 6,187,406 5,864,082 322,773 0.00% 5.30%
Nov 6,245,493 5,914,695 322,773 0.00% 5.30%
Dec 5,908,293 5,808,798 322,773 0.00% 5.30%
*Note that the monthly MWh System Loss figures show the average system loss for the year to remove monthly fluctuations
due to differences in billing periods. The corresponding monthly System Loss percentages show the System Loss
percentage for the full year.
** The information made available to Meralco only corresponds to MWh Offtake and Transmission Loss cannot be
disaggregated from the MWh Offtake.

MWh Offtake was based on MWh Sales forecast using econometric models relating MWh sales to
different variables such as economic performance, number of customers, and real price of electricity
among others. The assumed load factor is based on historical load factor data.

System Loss was computed through a combination of empirical formulas and Load Flow Simulation
Study for Primary Line conducted monthly by using Synergi Electric Software. Based on the same
study, the Distribution System can adequately convey electricity to customers.

Forecasted Consumption
7,000,000 14,000.0
6,000,000 12,000.0
5,000,000 10,000.0
MWh

4,000,000 8,000.0

MW
3,000,000 6,000.0
2,000,000 4,000.0
1,000,000 2,000.0
0 0.0
Jan
Jul
Jan
Jul
Jan
Jul
Jan
Jul
Jan
Jul
Jan
Jul
Jan
Jul
Jan
Jul
Jan
Jul
Jan
Jul

202320242025 2026 202720282029203020312032

Month

MWh Output MWh System Loss Coincident Peak MW

MWh Output is expected to grow at a rate of 3.8% annually.

 Forecasted Losses
6.00%
5.00%
4.00%
3.00%
2.00%
1.00%
0.00%
Sep

Sep

Sep

Sep

Sep

Sep

Sep

Sep

Sep

Sep
May

May

May

May

May

May

May

May

May

May
Jan

Jan

Jan

Jan

Jan

Jan

Jan

Jan

Jan

Jan
2023 2024 2025 2026 2027 2028 2029 2030 2031 2032
Month

Transm'n Loss System Loss

Power Supply
Power Supply Agreements - Contracted
Minimum Minimum
Case No. Type GenCo PSA Start PSA End
MW MWh/yr

ERC Case No. 2004-74 Base First Gas Power Corporation 640.00 5,249,318 August 2000 August 2025

ERC Case No. 2004-74 Intermediate First Gas Power Corporation 462.35 2,622,822 August 2000 August 2025

ERC Case No. 2004-74 Base FGP Corporation 320.00 2,624,659 October 2002 October 2027

ERC Case No. 2004-74 Intermediate FGP Corporation 235.97 1,443,205 October 2002 October 2027

ERC Case No. 94-217 Base Quezon Power Philippines Ltd. 460.00 3,132,182 May 2000 May 2025

ERC Case No. 2014-076RC Base Other 455.00 3,494,400 Sep 26, 2019 Sep 25, 2039

ERC Case No. 2017-012RC Peaking Other 50.00 81,030 Apr 26, 2021 Apr 25, 2041

ERC Case no. 2017-014RC Peaking Other 50.00 81,030 Dec 26, 2023 Dec 25, 2043

ERC Case No. 2018-013RC Base First Natgas Power Corporation 210.00 1,392,959 Jun 26, 2018 Feb 23, 2024

ERC Case No. 2018-013RC Intermediate First Natgas Power Corporation 201.87 1,403,068 Jun 26, 2018 Feb 23, 2024

ERC Case No. 2023-014RC Intermediate Other 600.00 3,351,000 Feb 26, 2026 Feb 25, 2047

 The power purchase agreement with First Gas Power Corporation (FGPC-Sta Rita) filed under ERC
Case No. 2004-74 was procured via direct negotiations. It currently provides baseload supply (640
MW) and mid-merit supply (462.35 MW).

 The power purchase agreement with FGP Corporation (FGP-San Lorenzo) filed under ERC Case
No. 2004-74 was procured via direct negotiations. It currently provides baseload supply (320 MW)
and mid-merit supply (235.97 MW).

 The power purchase agreement with Quezon Power Philippines Ltd., Co. (QPPL) filed under ERC
Case No. 94-217 was procured via direct negotiations. It currently provides baseload supply.

 The power supply agreement with San Buenaventura Power Ltd., Co. (SBPL) filed under ERC Case
No. 2014-076RC was procured via direct negotiations. It currently provides baseload supply.

 The power supply agreement with PowerSource First Bulacan Solar, Inc. (PFBSI) filed under ERC
Case No. 2017-012RC was procured via CSP. It currently provides peaking supply via renewable
energy (solar).

 The power supply agreement with Solar Philippines Tanauan Corporation (SPTanC) filed under
ERC Case No. 2017-014RC was procured via CSP. It will provide (starting Dec 26, 2023) peaking
supply via renewable energy (solar).

 The power supply agreement with First Natgas Power Corporation (FNPC-San Gabriel) filed under
ERC Case No. 2018-013RC was procured via CSP. It currently provides baseload supply (210 MW)
and mid-merit supply (201.87 MW).

 The power supply agreement with Terra Solar Philippines, Inc. (TSPI) filed under ERC Case No.
ERC Case No. 2023-014RC was procured via CSP. It will provide (starting Feb 26, 2026) mid-merit
supply via renewable energy (solar) and battery energy storage system (BESS). Its initial capacity
will be 600 MW for the first year and will increase to 850 MW on the second year onwards.
Power Supply Agreements – Pending
Minimum Minimum
Case No. Type GenCo PSA Start PSA End
MW MWh/yr

ERC Case No. 2019-079RC Base PHINMA Energy Corporation 200.00 1,314,000 Dec 26, 2019 Dec 25, 2029

ERC Case No. 2019-083RC Base San Miguel Energy Corporation 330.00 2,168,100 Dec 26, 2019 Jul 23, 2023

ERC Case No. 2019-078RC Intermediate PHINMA Energy Corporation 110.00 433,620 Jan 26, 2020 Dec 25, 2024

ERC Case No. 2019-082RC Intermediate First Gen Hydro Power Corporation 100.00 394,200 Jun 26, 2020 Dec 25, 2024

ERC Case No. 2019-080RC Intermediate South Premiere Power Corporation 290.00 1,143,180 Feb 26, 2020 Dec 25, 2024

ERC Case No. 2017-094RC Peaking Other 75.00 137,751 Jul 26, 2019 Jul 25, 2039

ERC Case No. 2019-023RC Peaking Other 50.00 81,030 Dec 26, 2023 Dec 25, 2043

ERC Case No. 2023-028RC Base GN Power Dinginin 300.00 302,400 Dec 15, 2022 Jan 25, 2023

ERC Case No. 2023-031RC Base GN Power Dinginin 300.00 165,600 Feb 3, 2023 Feb 25, 2023

ERC Case No. 2023-094RC Base South Premiere Power Corporation 480.00 2,356,560 Mar 26, 2023 Dec 25, 2023

ERC Case No. 2023-095RC Base Therma Luzon, Inc. 370.00 2,324,340 Apr 12, 2023 Mar 25, 2024

ERC Case No. 2023-105RC Base South Premiere Power Corporation 330.00 724,680 Aug 26, 2023 Dec 25, 2023

 The power supply agreement with PHINMA Energy Corporation (now known as ACEN) filed under
ERC Case No. 2019-079RC was procured via CSP. It currently provides baseload supply.

 The power supply agreement with San Miguel Energy Corporation (now known as SPI) filed under
ERC Case No. 2019-083RC was procured via CSP. It provided baseload supply until its termination
last 23 July 2023.

 The power supply agreement with PHINMA Energy Corporation (now known as ACEN) filed under
ERC Case No. 2019-078RC was procured via CSP. It currently provides mid-merit supply.

 The power supply agreement with First Gen Hydro Power Corporation (which was already
transferred to EDC) filed under ERC Case No. 2019-082RC was procured via CSP. It currently
provides mid-merit supply.

 The power supply agreement with South Premiere Power Corporation (SPPC) filed under ERC
Case No. 2019-080RC was procured via CSP. It currently provides mid-merit supply.

 The power supply agreement with Solar Philippines Tarlac Corporation (SPTC-1) filed under ERC
Case No. 2017-094RC was procured via CSP. It currently provides peaking supply via renewable
energy (solar). Its initial capacity was 75 MW for the first five years and was increased to 85 MW on
the sixth year onwards.

 The power supply agreement with Solar Philippines Tarlac Corporation (SPTC-2) filed under ERC
Case No. 2019-023RC was procured via CSP. It will provide (starting Dec 26, 2023) peaking supply
via renewable energy (solar).

 The power supply agreement with GN Power Dinginin (GNPD) filed under ERC Case No. 2023-
028RC was procured via negotiated procurement of emergency power supply due to the suspension
of the SPPC PSA under ERC Case No. 2019-081RC. It provided baseload supply until its expiration
last 25 January 2023.
 The power supply agreement with GN Power Dinginin (GNPD) filed under ERC Case No. 2023-
031RC was procured via negotiated procurement of emergency power supply due to the suspension
of the SPPC PSA under ERC Case No. 2019-081RC. It provided baseload supply until its expiration
last 25 February 2023.

 The power supply agreement with South Premiere Power Corporation (SPPC) filed under ERC
Case No. 2023-094RC was procured via negotiated procurement of emergency power supply due
to the suspension of the SPPC PSA under ERC Case No. 2019-081RC. It currently provides
baseload supply.

 The power supply agreement with Therma Luzon, Inc. (TLI) filed under ERC Case No. 2023-095RC
was procured via negotiated procurement of emergency power supply due to the suspension of the
SPPC PSA under ERC Case No. 2019-081RC. It currently provides baseload supply.

 The power supply agreement with South Premiere Power Corporation (SPPC) filed under ERC
Case No. 2023-105RC was procured via negotiated procurement of emergency power supply due
to the termination of the SMEC (now known as SPI) PSA under ERC Case No. 2019-083RC. It
currently provides baseload supply.

Planned Competitive Selection Process

Minimum Minimum
Supply Label Type PSA Start PSA End Publication
MW MWh/yr

Baseload (1,200 MW) Base 810.00 7,884,000.00 Dec 26, 2023 Mar 25, 2039 2023

Baseload (400 MW - 2024 IPSA) Base 400.00 2,628,000.00 Feb 26, 2024 Feb 25, 2025 2023

Baseload (1,800 MW) Base 1,200.00 11,826,000.00 Nov 26, 2024 Apr 25, 2040 2023

Baseload (300 MW) Base 300.00 1,971,000.00 Feb 26, 2026 Feb 25, 2028 TBD

Baseload (900 MW) Base 600.00 5,913,000.00 Feb 26, 2028 Feb 25, 2044 TBD

RE Baseload (30 MW) Base 30.00 197,100.00 Feb 26, 2028 Feb 25, 2048 TBD

Baseload (600 MW) Base 300.00 3,942,000.00 Feb 26, 2030 Feb 25, 2046 TBD

Mid-merit (500 MW) Intermediate 500.00 1,971,000.00 Feb 26, 2026 Feb 25, 2029 TBD

Mid-merit (300 MW) Intermediate 300.00 1,182,600.00 Feb 26, 2029 Feb 25, 2044 TBD

Mid-merit (200 MW) Intermediate 200.00 788,400.00 Feb 26, 2029 Feb 25, 2044 TBD

Peaking (260 MW - 2024 IPSA) Peaking 260.00 94,900.00 Feb 26, 2024 Jul 25, 2024 2023

Peaking (300 MW - 2028 IPSA) Peaking 300.00 109,500.00 Feb 26, 2028 Jul 25, 2028 TBD

Peaking (200 MW - 2029 IPSA) Peaking 200.00 73,000.00 Feb 26, 2029 Jul 25, 2029 TBD

Peaking (500 MW - 2030 IPSA) Peaking 500.00 182,500.00 Feb 26, 2030 Jul 25, 2030 TBD

Peaking (400 MW - 2031 IPSA) Peaking 400.00 146,000.00 Feb 26, 2031 Jul 25, 2031 TBD

Peaking (500 MW - 2032 IPSA) Peaking 500.00 182,500.00 Feb 26, 2032 Jul 25, 2032 TBD

The Minimum MWh/yr values in the table above are for indicative purposes only and should not be
construed as take-or-pay volumes of the Planned CSPs, unless otherwise explicitly stated in the Terms
of References of said CSPs.
The first wave of supply procurement under the 2023 PSPP will be for (i) 1,200 MW Baseload supply,
and (ii) 1,800 MW Baseload supply.

 The 1,200 MW Baseload CSP shall be the replacement for the: a.) terminated SPPC PSA under
ERC Case No. 2019-081RC, b.) SMEC (now known as SPI) PSA under ERC Case No. 2019-
083RC, and c.) failure of negotiations with Solar Philippines Batangas Baseload Corporation
(SPBBC) for execution of the 200 MW PSA. It will have the following capacity and commercial
operations date (“COD”): 810 MW by Dec 26, 2023 to increase to 1,010 MW by Feb 26, 2024, and
to further increase to 1,200 MW by Mar 26, 2024. Its contract term is fifteen (15) years (i.e., 15
Contract Years from Mar 26, 2024).

 The 1,800 MW Baseload CSP conducted by MERALCO last October 2020 to February 2021,
pursuant to its DOE-approved 2020 PSPP, resulted to MERALCO signing two (2) power supply
agreements with: (i) Excellent Energy Resources Inc. (EERI) for contract capacity of 1,200 MW,
COD by Nov 26, 2024, and filed under ERC Case No. 2021-021RC, and with (ii) Masinloc Power
Partners Co. Ltd. (MPPCL) for contract capacity of 600MW, COD by Apr 26, 2025, and filed under
ERC Case No. 2021-0018RC. Subsequently, EERI and MPPCL sent Notices of Termination of the
PSAs effective last 1 April 2023. Accordingly, MERALCO shall proceed to include a CSP for the
1,800 MW baseload supply requirement in its revised 2023 PSPP, consistent with the Energy
Regulatory Commission’s Orders dated 5 September 2023. Similar to the term of the 1,800 MW
requirement during its CSP last 2020-2021, the 1,800 MW Baseload rebidding CSP will have the
following capacity and COD: 1,200 MW by Nov 26, 2024 and additional capacity of 600 MW by Apr
26, 2025. Its contract term is fifteen (15) years (i.e., 15 Contract Years from Nov 26, 2024 and Apr
26, 2025, respectively).

For the other CSPs, they will have capacity, COD, and duration as indicated below:

 For the 400 MW Baseload – IPSA CSP, it will have its COD on Feb 26, 2024 with a contract term
of one (1) year only.

 For the 300 MW Baseload CSP, it will have its COD on Feb 26, 2026 with a contract term of two (2)
years.

 For the 900 MW Baseload CSP, it will have the following capacity and COD: 600 MW by Feb 26,
2028 and additional capacity of 300 MW by Feb 26, 2029. Its contract term is fifteen (15) years.

 For the 30 MW RE Baseload CSP, it will have its COD on Feb 26, 2028 with a contract term of
twenty (20) years. This CSP will be for Meralco’s RPS compliance and shall be limited to RE eligible
power plants only.

 For the 600 MW Baseload CSP, it will have the following capacity and COD: 300 MW by Feb 26,
2030 and additional capacity of 300 MW by Feb 26, 2031. Its contract term is fifteen (15) years.

 For the 500 MW Midmerit CSP, it will have its COD on Feb 26, 2026 with a contract term of three
(3) years.

 For the 300 MW Midmerit CSP, it will have its COD on Feb 26, 2029 with a contract term of fifteen
(15) years.

 For the 200 MW Midmerit CSP, it will have its COD on Feb 26, 2029 with a contract term of fifteen
(15) years.
 For the 260 MW Peaking - IPSA CSP, it will have its COD on Feb 26, 2024 with a contract term of
five (5) months only.

 For the 300 MW Peaking - IPSA CSP, it will have its COD on Feb 26, 2028 with a contract term of
five (5) months only.

 For the 200 MW Peaking - IPSA CSP, it will have its COD on Feb 26, 2029 with a contract term of
five (5) months only.

 For the 500 MW Peaking - IPSA CSP, it will have its COD on Feb 26, 2030 with a contract term of
five (5) months only.

 For the 400 MW Peaking - IPSA CSP, it will have its COD on Feb 26, 2031 with a contract term of
five (5) months only.

 For the 500 MW Peaking - IPSA CSP, it will have its COD on Feb 26, 2032 with a contract term of
five (5) months only.
Captive Customer Connections

Historical and Forecasted Captive

Connections in Sector
12,000,000
10,000,000
8,000,000
6,000,000
4,000,000
2,000,000
0
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
Year

Residential Commercial Industrial Others

The number of residential connections is expected to grow at an average rate of 4.0% annually from
2022 to 2032. Said customer class is expected to account for 49.3% of the total captive consumption
at the end of the forecast period. Meanwhile, the number of captive commercial connections is projected
to increase at a rate of 3.1% from 2022 to 2032, accounting for 42.1% of total captive consumption in
2032. Lastly, the number of captive industrial connection is expected to grow at a slower rate of 1.5%,
which will account for 8.2% of captive consumption in 2032.