The Manila Electric Company (Meralco) on Tuesday denied allegations that it obtained favored power supply deals from the Energy Regulatory Commission (ERC) which was accused of granting “midnight deals” to the distribution utility. READ: ERC sued over Meralco ‘sweetheart’ power dealsADVERTISEMENTShe said Meralco’s power supply agreements intend to shield consumers from higher prices at the Wholesale Electricity Spot Market (WESM). “The seven long term power supply agreements are not midnight deals. Under the CSP, distribution utilities may execute a power supply agreement with a generation company after complying with the requirements. Non said the ERC has only accepted the power supply applications and it does not mean these are approved already.

Source: Philippine Daily Inquirer July 04, 2017 11:03 UTC