THE Manila Electric Co. (Meralco) announced on Thursday six generation companies have expressed interest in the Competitive Selection Process (CSP) for its 400-megawatt (MW) interim supply requirement.
According to Meralco, First Gas Power Corp., First Natgas Power Corp., FDC Misamis Power Corp., GNPower Dinginin Ltd. Co., Masinloc Power Co. Ltd., and Sual Power Inc. participated in the pre-bid conference held on the same day.
Besides the prospective bidders, Meralco said consumers also joined the conference, which was 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,” said Meralco Bids and Awards Committee Chairman Lawrence Fernandez.
Meralco said the resulting 15-year Power Supply Agreements (PSAs) for this power supply requirement is targeted to start by Aug. 26, 2025, and will undergo the review and approval process of the Energy Regulatory Commission prior to implementation.
“We hope that there will be no further delays as we work towards immediate signing of the PSAs resulting from the 600 MW CSP,” said Meralco Senior Vice President and Head of Regulatory Management Jose Ronald Valles.
“We trust that ERC evaluation and approval will also be swift so customers can enjoy these very low rates upon scheduled delivery date in August 2025,” he added.
Earlier this week, Meralco also secured the lowest offers for its 600-MW baseload 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, and post-qualification evaluations for the bids are currently ongoing.
Meralco’s Thursday share price went up by P3.40 to close at P414.40 per share.
ED PAOLO SALTING
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