Masinloc Power Co. Ltd. (MPCL) of San Miguel Corp. and GNPower Dinginin Ltd. Co. (GNPD) of Aboitiz Power Corp. offered the “possible best bids” for Manila Electric Co.’s 600-megawatt power supply requirement during the competitive selection process (CSP) Tuesday.
MPCL submitted a total levelized cost of energy rate of P5.6015 per kilowatt-hour for 500 MW of baseload capacity, inclusive of line rental cost and value-added tax.
GNPD’s offer was at P5.7392 per kWh for 100-MW capacity.
Both offers are lower than the P7.2609 per kWh reserve price set for the bidding.
Mariveles Power Generation Corp. also owned by SMC and Thai-led Quezon Power (Philippines) Limited Co. also submitted offers which were declared “possible next best bids.”
MPGC offered P6.4017 per kWh for 200 MW of supply, while QPPL submitted a P6.5487-per-kWh bid for 400 MW of the baseload requirement.
The submissions passed the criteria contained in bidding documents and pre-qualification evaluation, according to Meralco’s bids and awards committee for power supply agreements (BAC-PSA).
Two bidders were deemed non-compliant as their offers exceeded the reserve price.
Southwest Luzon Power Generation Corp. offered a total LCOE rate of P7.7303 per kWh, and Therma Luzon Inc. bid P8.3388 per kWh.
“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.
“We will now proceed with the post-qualification evaluation prior to issuance of notices of award and execution of PSAs,” Fernandez said.
Eight bidders earlier expressed interest to participate in the CSP. First Gas Power Corp. and First NatGas Power Corp. did not join the bidding.
Meralco said it conducted the CSP in compliance with the rules and regulations issued by the Energy Regulatory Commission (ERC) and the Department of Energy (DOE).
“The CSP ensures an open and transparent process that ensures and fairness and integrity,” Fernandez said.
The resulting 15-year PSAs will be subject to regulatory proceedings and approval of the ERC prior to effectivity on Aug. 26, 2025.
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