Manila: Meralco has successfully secured its 200-megawatt baseload supply requirements from Sual Power Inc. after the latter submitted the lowest offer of PHP4.2955 per kilowatt hour (kWh).
According to Philippines News Agency, Meralco, led by Manny V. Pangilinan, revealed that six out of 15 generation companies that expressed interest in bidding submitted a total capacity of 531 MW on February 16. Lawrence Fernandez, chair of the Meralco Bids and Awards Committee for Power Supply Agreements (BAC-PSA), stated that the competitive selection process (CSP) secured the power supply at the lowest possible cost through an open and transparent process.
Other companies considered included Mariveles Power Generation Corporation, which offered PHP4.3805/kWh for 200 MW, Bac-Man Geothermal Inc. at PHP4.5187/kWh for 35 MW, and San Manuel Solar Inc. at PHP4.5787/kWh for 46 MW. Additionally, ACEN Corporation and First Gen Hydro Power Corporation submitted offers of PHP5.2087/kWh for 25 MW and PHP5.4906/kWh for 25 MW, respectively.
Meralco noted that consumer groups were tapped as observers during the CSP, and the bidding process was livestreamed on Meralco's YouTube page. The CSP complies with the Department of Energy and Energy Regulatory Commission's requirements, and securing the 200 MW baseload is part of the Renewable Portfolio Standards compliance, pending ERC's approval.
