Meralco, the largest power distributor in the country, has laid out plans to secure enough power supply during peak seasons to ensure an uninterrupted supply for its customers.

Jose Ronald Valles, Meralco first vice president and regulatory management head, said the company has informed the Department of Energy, or DoE, of the company's plan to sign two new power supply agreements or PSAs.

The first one will require a capacity of 400 megawatts and will be an interim PSA, or IPSA. Meralco aims to complete the competitive selection process, or CSP, for this deal by the end of January 2024.

The second PSA will be for 250 MW and will be used to augment Meralco's supply from February to July.

"We have already filed the terms of reference, or ToR, for the IPSA and that of the 250MW peaking, which are meant to address what we see is the potential shortage in supply during summer," Valles told reporters.

The ToR for the PSA needs to be approved by the DoE so that Meralco can proceed with the CSP. Meralco currently holds a 1,200-MW CSP for a baseload power supply, and the deadline for this is also set on 23 January 2024.

So far, First Natgas Power Corp. of the Lopez Group, San Miguel Corp.-led Limay Power Inc., and South Premiere Power Corp. have expressed their interest in participating in the CSP.