Six power generation companies have formally expressed interest in the Competitive Selection Process (CSP) for Manila Electric Company’s (Meralco) 400-megawatt (MW) supply requirement.
First Gas Power Corporation, First Natgas Power Corporation, FDC Misamis Power Corporation, GNPower Dinginin Ltd. Co., Masinloc Power Co. Ltd., and Sual Power Inc. participated in today's Pre-Bid Conference.
In addition to the prospective bidders, Meralco consumers joined the Pre-Bid Conference, which was likewise streamed live on Meralco’s YouTube page.
“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,” Meralco Bids and Awards Committee Chairman Lawrence S. Fernandez said.
“We look forward to the participation of these prospective bidders during the Bid Submission Deadline and Bid Opening scheduled on October 1,” he added.
The resulting 15-year Power Supply Agreement (PSA) for Meralco’s 400-MW mid-merit requirement is targeted to start by August 26, 2025. Prior to implementation, it will undergo the Energy Regulatory Commission's review and approval process.
Aligned with its annual Power Supply Procurement Plan approved by the Department of Energy, Meralco conducts open and transparent CSPs in full compliance with government rules and regulations.
Earlier this week, 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 kWh for 500-MW capacity, while GNPower Dinginin Ltd. Co. offered to supply the remaining 100-MW baseload requirement at P5.7392 per kWh. Both offers were significantly lower than the P7.2609 per kWh reserve price set for the bidding. Post-qualification evaluations are ongoing.
“We are happy that the main objective of the CSP, which is to secure the least cost supply for our customers, has been achieved. We hope there will be no further delays as we work towards immediately signing the PSAs resulting from the 600 MW CSP. We trust that ERC evaluation and approval will also be swift so customers can enjoy these meager rates upon scheduled delivery date in August 2025,” Meralco Senior Vice President and Head of Regulatory Management Jose Ronald V. Valles said.
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