MANILA, Philippines — Generation companies owned by conglomerate San Miguel Corp. as well as a joint venture of the Aboitiz and Ayala groups have submitted the best bids for Manila Electric Co. (Meralco)’s 1,800-megawatt supply requirement to meet the growing demand of its customers.
Meralco said it secured the lowest bids for 1,800-MW supply from three generation companies through the government-mandated competitive selection process (CSP).
The company said four of the six bidders that earlier expressed interest to participate in the CSP submitted their qualification documents, technical proposal, and bid price last Jan. 5.
Submitting the lowest offers for Meralco’s future baseload requirement were GNPower Dinginin Ltd. Co. (GNPD), Mariveles Power Generation Corp. (MPGC), and Excellent Energy Resources Inc. (EERI).
Meralco said GNPD offered a total levelized cost of electricity (LCOE) rate of P6.8580 per kilowatt-hour (kWh) for 300-MW of the total requirement.
GNPD, which is a joint venture among Aboitiz Power Corp., ACEN Corp. and Power Partners Ltd. Co., owns a 1,336-MW coal-fired power plant in Mariveles, Bataan.
For their part, MPGC offered P6.9971 per kWh LCOE for another 300-MW of supply, while EERI put in the bid for the biggest 1,200-MW supply at P7.1094 per kWh LCOE.
EERI and MPGC are both subsidiaries of SMC through its energy arm San Miguel Global Power Holdings Corp.
Meralco said Masinloc Power Co. Ltd. (MPCL), the other generation company that participated in the bidding, offered a 300-MW at a rate of P7.1417 per kWh.
However, with EERI’s bid completing the required 1,800-MW total supply requirement, Meralco said MPCL’s bid was designated as a possible next best bid.
Meralco’s bids and awards committee for power supply agreements (BAC-PSA) said all offers received were below the reserve prices set for this CSP.
“The Meralco BAC-PSA has fully complied with its mandate to conduct the bid in an open and transparent manner to achieve the least cost of electricity in accordance with the Department of Energy’s Department Circular DC2023- 06-0021, Series of 2023 and Energy Regulatory Commission Resolution 16, Series of 2023,” Meralco BAC-PSA chairman Lawrence Fernandez said.
Meralco assured the public that all submissions underwent a very stringent pass/fail completeness assessment and pre-qualification evaluation.