MERALCO Extends PSA with Therma Luzon

Pasig–(PHStocks)–The Board of Directors of Manila Electric Co. (MERALCO) (PSE: MER) has approved the signing of a Power Supply Agreement (PSA) between MERALCO and Therma Luzon Inc. (TLI), an affiliate of Aboitiz Power Corp. (AboitizPower) (PSE: AP).

As previously disclosed, the existing Load Allocation of TLI under the MERALCO-NPC Transition Supply Contract was extended for a period of 12 months starting December 26, 2011, subject to the finalization of the PSA by and between MERALCO and TLI, and its approval by the Energy Regulatory Commission (ERC).

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