MANILA Electric Co. (Meralco) said Tuesday it had secured the lowest offer for its 400-megawatt (MW) mid-merit supply requirement from Aboitiz Power Corp.’s GNPower Dinginin Ltd. Co. (GNPD).
Three generation firms were said to have submitted qualification documents, technical proposal, and bid price.
The distribution utility confirmed all offers were lower than the P8.0585 per kilowatt-hour (kWh) reserve price for levelized cost of electricity set for the bidding.
Out six interested bidders, GNPD, SMC Global Power Holdings Corp.’s Masinloc Power Co. Ltd. (MPCL) and Sual Power Inc (SPI) moved to the next round.
Meralco said that GNPD’s offer was at P7.6816 per kWh.
All submissions were said to have passed the criteria contained in bidding documents and pre-qualification evaluation.
Observers including consumer groups witnessed the submission of bids.
A post-qualification evaluation will now be conducted prior to issuance of a notice of award and execution of the power supply agreement (PSA) with the winning bidder.
The 15-year PSA for Meralco’s 400-MW mid-merit requirement will be subject to regulatory proceedings prior to its scheduled effectivity on Aug. 26, 2025.
Meralco’s share price rose by P4.80 to close at P443 on Tuesday.
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