The Manila Electric Co., the country’s largest power distributor, on Tuesday said it has awarded the supply contract for its 400-megawatt mid-merit requirement to GNPower Dinginin Ltd. Co.
GNPower offered the lowest bid of P7.6816 per kiloWatt-hour for the entire P400 MW requirement, lower than the reserve price of P8.0585 a kWh set before the bidding.
The two other bidders at the Competitive Selection Process on Tuesday were Sual Power Inc. and Masinloc Power Co. Ltd. Sual Power submitted a bid of P7.7416 per kWh for only 300 MW, while Masinloc Power Co. offered P7.8567 per kWh for only 200 MW.
The bids passed all criteria outlined in bidding documents and pre-qualification evaluation, according to Meralco’s bids and awards committee for power supply agreements.
“Just like in the past, this CSP has fulfilled the objective of securing the needed power supply for customers at the least cost possible through an open and transparent process,” said Lawrence S. Fernandez, chairman of Meralco BAC-PSA.
Consumer groups and CSP observers monitored the proceedings streamed live on Meralco’s YouTube channel. The transparency aims to build trust and accountability in the procurement process.
The BAC-PSA will carry out a post-qualification evaluation before issuing a Notice of Award and finalizing the Power Supply Agreement with GNPD.
Meralco also said the CSP was conducted in full compliance with regulations set by the Energy Regulatory Commission and the Department of Energy.
The 15-year PSA for Meralco’s 400-MW mid-merit requirement still needs regulatory approval from the ERC before it can take effect on 26 August 2025. The agreement helps ensure reliable and cost-effective power supply for consumers in the region.
