Meralco PowerGen says it has enough fuel supply for power plants

Meralco PowerGen Corp. (MGen), the power generation arm of the Manila Electric Company, on Thursday said it has enough fuel supply to run its power plants amid volatile petroleum prices due to the Middle East conflict.

In a statement, MGen said the current energy situation is influenced by several factors, including movements in global fuel prices and geopolitical developments affecting energy supply chains. 

The company said that remaining focused on operational discipline and system reliability is of paramount importance for power generation firms during the challenging energy environment.

With this, MGen said it has “sufficient fuel supply for our existing generation facilities enabling us to meet current operational requirements, support current electricity demand, and contribute to overall grid stability.”

Moreover, the power generation company said it continues to operate its generation facilities with high availability through rigorous plant maintenance, efficient operations, and the dedication of our people. 

“We also continue to optimize the performance of our existing 5,069.7-megawatt (net sellable capacity) diversified power generation portfolio,” it said.

“At the same time, we are strengthening our long-term contribution to the region’s energy security by investing in new capacities, including large-scale renewable energy projects such as the 3,500-MW power MTerra Solar combined with a 4,500MW-hour battery energy storage system,” it added.

MGen said that, through the project, it has proven that a combination of variable renewable energy with energy storage systems is a viable alternative to traditional sources of mid-merit supply reliant on imported fuels.  

“We are also advancing energy efficiency initiatives that promote the responsible use of energy and help manage demand, which is an important part of ensuring a more resilient and sustainable power system,” it said.

“MGEN remains committed to working closely with the government, industry partners, and stakeholders to support a stable, reliable, and more sustainable energy future for the region,” it added. — RSJ, GMA Integrated News