The Manila Electric Company (Meralco) has secured the lowest bid for its 400-megawatt (MW) mid-merit supply requirement from GNPower Dinginin Ltd. Co. (GNPD).
As a highly regulated entity, Meralco conducted the CSP in full compliance with the rules and regulations set by the Energy Regulatory Commission (ERC) and the Department of Energy (DOE). I Photo: GNPower Ltd. Co.
During the Bid Opening for this Competitive Selection Process (CSP) held earlier today, three generation companies submitted their qualification documents, technical proposals, and bid prices.
All offers were lower than the reserve price of P8.0585 per kilowatt-hour (kWh) for the levelized cost of electricity (LCOE) set for the bidding.
GNPD’s offer of P7.6816 per kWh total LCOE for the entire 400 MW requirement was declared the best bid.
The next best bids came from Sual Power Inc., which offered P7.7416 per kWh for 300 MW of supply, and Masinloc Power Co. Ltd., which submitted a P7.8567 per kWh bid for 200 MW of the supply requirement.
All submissions passed the criteria outlined in the bidding documents and pre-qualification evaluation, according to Meralco’s Bids and Awards Committee for Power Supply Agreements (BAC-PSA).
"Like previous CSPs, this process has achieved its goal of securing the necessary power supply for our customers at the lowest cost possible through an open and transparent process,” said Meralco BAC-PSA Chairman Lawrence S. Fernandez.
Consumer groups, serving as CSP observers, witnessed the submission of bids. Additionally, the proceedings were streamed live on Meralco's YouTube page.
The BAC-PSA will conduct a post-qualification evaluation before issuing a Notice of Award and executing the Power Supply Agreement (PSA) with the winning bidder.
As a highly regulated entity, Meralco conducted the CSP in full compliance with the rules and regulations set by the Energy Regulatory Commission (ERC) and the Department of Energy (DOE).
The resulting 15-year PSA for Meralco’s 400-MW mid-merit requirement will be subject to regulatory proceedings and ERC approval before the planned effectivity on August 26, 2025.
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