August 28, 2024 | 12:00am
MANILA, Philippines — The power units of Ramon Ang-led San Miguel Corp. and the Aboitiz Group have offered the best bids for Manila Electric Co. (Meralco) ’s procurement of 600-megawatt (MW) baseload supply.
Following a competitive selection process (CSP), the Manuel V. Pangilinan-led power giant hailed San Miguel’s Masinloc Power Co. Ltd. as the best bid after offering P5.6015 per kilowatt-hour (kWh) for the 500-MW capacity.
Aboitiz Power Corp.’s GNPower Dinginin Ltd. Co., meanwhile, grabbed the remaining 100-MW baseload requirement at a rate of P5.7392 per kWh.
Both offers are significantly lower compared to the P7.2609 per kWh reserve price set for the bidding, which covers a 15-year power supply agreement (PSA) that is targeted to start on Aug. 26, 2025.
According to Meralco’s bids and awards committee for PSAs, the submissions passed the criteria in the bidding documents and the pre-qualification evaluation.
“The robust turnout of this CSP is a welcome development for Meralco’s continuing efforts to source sufficient power supply for its customers at the least cost possible,” Meralco BAC-PSA chairman Lawrence Fernandez said.
Eight bidders had initially expressed interest in participating in the CSP, but only six had filed their respective qualification documents, technical proposal and bid price.
“We will now proceed with the post-qualification evaluation prior to the issuance of notices of award and the execution of PSAs,” Fernandez said. “The CSP ensures an open and transparent process that ensures fairness and integrity.”
Meralco, as a highly regulated entity, conducted the CSP in strict compliance with the rules and regulations set by the Energy Regulatory Commission and the Department of Energy.
“The robust turnout of this CSP is a welcome development for Meralco’s continuing efforts to source sufficient power supply for its customers at the least cost possible.”
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