Meralco invites GenCos to join 1,000-MW power supply bid

MANILA, Philippines — Manila Electric Co. (Meralco) is seeking bids from generation companies for the supply of 1,000 megawatts (MW) of electricity to meet its energy needs next year.

In a statement on Wednesday, the company said the bid submission deadline for the 600-MW requirement is set for Aug. 27, while the 400-MW capacity will be on Oct. 1.

Eight companies have expressed interest in participating in the 600-MW auction: 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.

READ: Meralco to proceed with 1,000-MW power supply auction

“We urge prospective bidders to submit their best offers for Meralco’s 600 MW and 400 MW supply requirements for next year. We look forward to receiving competitive offers that will help us fulfill our mandate of providing reliable and least-cost electricity to our customers,” Meralco Bids and Awards Committee for Power Supply Agreements Chairman Lawrence Fernandez said.

“We would also like to reiterate that the CSPs (competitive selection process) are being conducted in compliance with the rules and guidelines set by the Department of Energy and the Energy Regulatory Commission. We remain dedicated to conducting this process with utmost transparency and fairness,” he added.

Jose Ronald Valles, Meralco senior vice president and head of Regulatory Management, earlier said that it was part of Meralco’s mandate to “conduct these in a timely manner,” as they warned that a delay could result in “billions of pesos in the form of higher power rates.”

Meralco’s franchise area covers Metro Manila, Bulacan, Cavite, Rizal, and select areas in Pampanga, Laguna, Batangas and Quezon.