MANILA -- At least 22 bidders have indicated interest to join the competitive selection process (CSP) for Manila Electric Company’s (Meralco) three power supply contracts with a total of 2,900-megawatts (MW) set for bidding this year.
In a briefing Monday, Meralco utility economics analysts Lawrence Fernandez said seven power generation companies have indicated interest to join the CSP, a requirement based on a Supreme Court (SC) decision to ensure transparency, for the 500 MW with a commercial operations date (COD) of 2020.
Bidding for this five-year power supply contract, which will be a mid-merit, wherein supply will be provided depending on the power demand throughout the day, has been scheduled for September 11 this year.
Fernandez said 11 power suppliers have indicated interest to the 1,200MW requirement with a 2020 COD while four parties have indicated interest to the 1,200MW 2024 COD for baseload plants, which can provide generation whole-year long with the exemption of periodic maintenance.
He said submissions for the 2024 CSP is Monday this week, thus, he does not know whether more parties have submitted requirements while the press briefing was ongoing.
Meanwhile, Meralco, during the day, reported a consolidated core net income of PHP12.3 billion in the first six months of 2019, 14 percent higher same period last year.
Consolidated reported net income is flat at PHP12 billion while consolidated revenues went up 10 percent year-on-year to PHP165 billion.
Meralco officials attributed the rise in net income to higher demand, with total energy sold for the six-month period rising by five percent year-on-year to 22,823 gigawatt hours (GWh). Billed customers in the first half this year rose four percent to 6.7 million.
The company announced that in the second quarter this year it was able to synchronize to the grid the 455MW San Buenaventura supercritical coal-fired power plant, which will further boost the power distribution company’s supply base.
“We will continue to look into value and cash-flow accretive opportunities in the energy supply chain within and outside the Philippines to the extent that these are consistent with law and regulations,” Meralco chairman Manuel V. Pangilinan said. (PNA)
