Manila Electric Co. or Meralco, the country’s largest power distributor, said Wednesday the South Premiere Power Corp. offer to provide 1,200 megawatts of power has been selected as the “best bid” among three others under the government-mandated competitive selection process (CSP).
All three bidders that participated in the CSP submitted their qualification documents, technical proposal, and bid price on Tuesday, 23 January. The documents and bids were evaluated by the bids and awards committee the same day.
SPPC offered a levelized cost of P7.0718 per kilowatt-hour for the entire 1,200-MW requirement. The unincorporated joint venture of Limay Power Inc. and San Roque Hydropower Inc., meanwhile, submitted the next best bid of P7.1006 per kWh for the minimum bid capacity of 150-MW while First Natgas Power. Corp. offered a rate of P8.4489 per kWh for 210 MW.
The reserve price set for the CSP was earlier set at P7.1538 for the 15-year supply agreement.
The bids and awards committee will soon conduct a post-qualification evaluation and submit its recommendation and report to Meralco’s board of directors for approval of the winning power supplier prior to the issuance of a notice of award.
