Manila Electric Co., the country’s largest power distributor, has secured the lowest offers for its 600-megaWatt baseload supply requirement through the conduct of a Competitive Selection Process.
Of the eight bidders that expressed interest in the CSP, six submitted their qualification documents, technical proposal, and bid price, the Meralco said. Masinloc Power Co. Ltd. was declared the best bid after it offered P5.6015 per kiloWatt-hour total levelized cost of electricity, inclusive of line rental cost and value-added tax, for a 500-MW capacity. Masicloc Power is a subsidiary unit of the conglomerate San Miguel Corporation.
GNPower Dinginin Ltd. Co., meanwhile, offered to supply the remaining 100-MW baseload requirement at an LCOE rate of P5.7392 per kWh. GN Power Dinginin operates as a limited partnership of the Aboitiz Group on one hand and the Ayalas on the other.
Both offers are significantly lower than the P7.2609 per kWh reserve price set for the bidding. Declared as next possible best bids were Mariveles Power Generation Corp., which offered P6.4017 per kWh for 200-MW of supply and Quezon Power Philippines Limited Co. which submitted a P6.5487 per kWh bid for 400-MW of the baseload requirement.
The submissions passed the criteria contained in bidding documents and pre-qualification evaluation, according to Meralco’s bids and awards committee for power supply agreements.
Two of the bidders were deemed non-compliant as their offers were higher than the reserve price. Southwest Luzon Power Generation Corp. offered a total LCOE rate of P7.7303 per kWh, and Therma Luzon Inc. bid P8.3388 per kWh.
“The robust turnout of this CSP is a welcome development for Meralco’s continuing efforts to source sufficient power supply for its customers at the least cost possible,” Meralco BAC-PSA chairman Lawrence S. Fernandez said. “We will now proceed with the post-qualification evaluation prior to issuance of Notices of Award and execution of PSAs.”
As a highly regulated entity, Meralco conducted the CSP in full compliance with the rules and regulations issued by the Energy Regulatory Commission and the Department of Energy.
“The CSP ensures an open and transparent process that ensures fairness and integrity,” Fernandez added.
CSP observers, which include consumer groups, also witnessed the submission of bids. In addition, the proceedings were streamed live on Meralco’s YouTube page.
The resulting 15-year PSAs is subject to regulatory proceedings and ERC approval prior to its effectivity on 26 August 2025.
