The Manila Electric Co., the country’s largest power distributor, said six power generation companies have expressed interest in its Competitive Selection Process seeking to acquire 400-megaWatts of power.
The companies who participated in the pre-bid conference held Thursday were First Gas Power Corp., First Natgas Power Corp., FDC Misamis Power Corp., GNPower Dinginin Ltd. Co., Masinloc Power Co. Ltd., and Sual Power Inc.
Lawrence Fernandez, chairman of Meralco’s bids and awards committee, said the interest shown by power companies at the pre-bid conference comes on the heels of the recent power supply tender.
“Following the success of our recent CSP for 600 MW of baseload supply, where we received very competitive offers, we are pleased to see continued interest from major energy players. This CSP will ensure that we provide the least-cost supply for our customers starting next year,” he said.
Submission of bids for the 15-year supply deal is scheduled on October 1.
The power supply agreement for Meralco’s 400-MW mid-merit requirement is expected to start on 26 August next year, given the period needed by the Energy Regulatory Commission to review and approve the deal.
In line with its power supply procurement plan, which is approved annually by the Department of Energy, Meralco adheres to open and transparent CSPs, complying fully with government regulations.
Earlier this week, Meralco achieved favorable outcomes in another CSP, securing the lowest offer for its 600-MW supply requirement.
Masinloc Power offered P5.6015 per kiloWatt-hour for 500 MW, while GNPower Dinginin proposed P5.7392 per kWh for the remaining 100 MW. Both offers were significantly below the P7.2609 per kWh reserve price. The post-qualification evaluation of the offers is underway.
“We are pleased that the CSP’s primary goal—to secure the least-cost supply for our customers—has been met. We anticipate a swift process for signing the PSAs resulting from the 600 MW CSP and hope for a quick ERC evaluation so that our customers can benefit from these low rates starting August 2025,” Jose Ronald V. Valles, senior vice president and head of regulatory management at Meralco, said in a statement.
