The Manila Electric Co. (Meralco) said a number of power firms have submitted expressions of interest to supply the power distributor with 600 megawatts worth of baseload capacity that it needs beginning next year.
“The total offered capacity from eight bidders was 1,870 MW vis-a-vis the 600 MW requirement to be bid out,” said Lawrence Fernandez, Meralco vice president and head of utility economics department, in a message to reporters.
Fernandez did not disclose the identity of the proponents.
Meralco said the 600-MW requirement comes as a 15-year power supply agreement (PSA) targeted to begin on 26 August 2025.
Under the terms of the bid or competitive selection process, the proponents operating natural gas fired power plants “ are highly encouraged to participate in the bidding and prioritize the use of indigenous natural gas.”
Meralco’s bids and awards committee has scheduled a pre-bid conference on 4 July and submission of bids deadline on 2 August.
Proponents must submit a tariff schedule indicating contract capacity and corresponding delivered headline rate and levelized cost of electricity (LCOE) for the contract period.
The minimum contract capacity per bidder should also be at least 150 MW.
The bidders’ headline rate and LCOE are subject to a predetermined reserve price revealed only at the opening of bids.
The conduct of the CSP is part of continuing efforts to ensure the availability of reliable, sufficient and cost-competitive power for customers, Meralco said.
