THE Manila Electric Co. (Meralco) said six power generation companies have formally expressed interest in the competitive selection process (CSP) for 400 megawatts (MW) of its supply requirement next year.
Meralco said among those who participated in the pre-bid conference yesterday are First Gas Power Corp., First Natgas Power Corp., FDC Misamis Power Corp., GNPower Dinginin Ltd. Co., Masinloc Power Co. Ltd. and Sual Power Inc.
“Following the success of our recent CSP for 600 MW of baseload supply where Meralco received very competitive offers, we welcome the continued interest of the country’s major energy players to join this CSP round that will help us ensure availability of least-cost supply for our customers starting next year,” said Lawrence Fernandez, Meralco Bids and Awards Committee chairman, in a statement.
Fernandez said actual bid submission deadline and bid opening is scheduled on October 1.
The conduct of this CSP will result in a 15-year power supply agreement/s (PSA) for Meralco’s 400 MW mid-merit requirement is targeted to start by Aug.26, 2025.
Meralco assured the resulting PSA will undergo the review and approval process of the Energy Regulatory Commission prior to implementation.
Meralco secured the lowest offers for its 600 MW supply requirement from two power generation companies through another CSP.
Masinloc Power Co. Ltd. offered P5.6015 per kilowatt hour (kWh) for 500 MW capacity while GNPower Dinginin Ltd. Co. offered to supply the remaining 100 MW baseload requirement at a rate of P5.7392 per kWh.
Both offers were significantly lower than the P7.2609 per kWh reserve price set for the bidding but post-qualification evaluations are still ongoing.
