At least eleven power generation companies have expressed intent to bid for the 900-megawatt supply contract of Manila Electric Company, signaling strong market interest and competitive prospects for the distribution utility’s long-term power requirement.
Lawrence Fernandez, chairman of the Meralco Bids and Awards Committee for Power Supply Agreements, confirmed that the firm received 11 expressions of interest from power generators for its 900-megawatt baseload procurement.
The participation of multiple energy firms is significant because under existing government regulations, a distribution utility must receive at least two qualified bids through an open competitive selection process before signing a power supply contract. Having a high number of interested generation companies ensures competitive pricing, increases transparent market rivalries, and lowers the likelihood of a failed auction that would otherwise force direct contract negotiations.
The competitive selection process aims to contract a 15-year power supply agreement covering 600 megawatts starting February 26, 2031, and an additional 300 megawatts beginning February 26, 2032. Meralco has set a pre-bid conference for prospective suppliers on November 6, while the deadline for final bid submissions is scheduled for December 9.
This procurement follows a separate bidding process held last month for a 600-megawatt supply contract set for delivery between 2028 and 2029. In that auction, Mariveles Power Generation Corp. and Sual Power Inc. each offered electricity rates of ₱5.3573 per kilowatt-hour and ₱5.4357 per kilowatt-hour for 200 megawatts each, while GNPower Mariveles Energy Center submitted a rate of ₱5.5789 per kilowatt-hour for the remaining capacity.
All power supply agreements resulting from these bidding rounds require final regulatory evaluation and approval from the Energy Regulatory Commission before implementation.
Meralco currently serves electricity consumers across Metro Manila, Bulacan, Cavite, Rizal, parts of Laguna and Quezon, and select municipalities in Batangas.
