Limay Power offers best deal for Meralco’s interim 400MW supply deal

Manila Electric Co., the largest power distributor in the country, said Tuesday Limay Power Inc. offered the lower rate for the interim supply of 400 megaWatts through a competitive selection process.

Limay Power was one of three power firms that expressed interest to participate in the bidding but only two submitted the qualification documents, technical proposal, and bid price.

Limay Power offered a total headline electricity rate of P6.2708 per kilowatt-hour, inclusive of value-added tax and line rental, for the entire 400-MW baseload requirement.

Meralco said Limay Power’s competition, Masinloc Power Co. Ltd., submitted a bid of P6.2957 per kWh, VAT and line rental inclusive, but only for a 195-MW capacity.

Meralco set a reserve price of P6.3512 per kWh for the bidding.

The power distributor said its Bids and Awards Committee for Power Supply Agreements will conduct a post-qualification evaluation and submit its recommendation and report to Meralco’s board of directors for approval and issuance of the notice of award.

The bidding for the interim supply was in line with the Department of Energy’s requirement of open and transparent process. The bidding was streamed live.

This interim power supply deal is still subject to the approval of the Energy Regulatory Commission and will be effective until February 2025.