Meralco to proceed with 1,000-MW power supply auction
Tycoon Manuel Pangilinan-led Manila Electric Co. (Meralco) will resume its auction of 1,000 megawatts (MW) of additional power supply, aiming to ensure the flow of electricity to its franchise areas.
In a statement on Tuesday, the company said bidding procedures would continue for the 600 MW and 400 MW power deals.
Based on its Bid Bulletin No. 6 issued on Monday, potential bidders for a contract capacity of 600 MW may submit their offers by Aug. 27. Prequalification evaluation and notification of the best bid may happen either on the 27th or 28th of this month. This batch of capacity procurement is poised for delivery by August 2025.
READ: House panel OKs new 25-year Meralco franchise bid
Eight companies showed interest in bidding for this baseload supply, namely: First Gas Power Corp. and First NatGas Power Corp. of the First Gen group; GNPower Dinginin Ltd. Co and Therma Luzon Inc. of the Aboitiz group; Mariveles Power Generation Corp. and Masinloc Power Co. Ltd. of San Miguel Corp.; Southwest Luzon Power Generation Corp. of the Consunji group; Quezon Power (Philippines) Ltd. Co.
A bid bulletin on the resumption of the 400 MW competitive selection process is likewise set to be issued shortly, said Lawrence Fernandez, Meralco vice president and head of utility economics department.
Article continues after this advertisement“[We will] continue our efforts to secure our power supply requirements in the least cost manner, consistent with our mandate,” Meralco said. INQ
