MANILA – The Manila Electric Company (Meralco) on Tuesday announced that it secured two lowest prices for its 600 megawatts baseload power requirement.
After conducting a Competitive Selection Process (CSP), Masinloc Power Co. Ltd. and GNPower Dinginin Ltd. Co. will be supplying Meralco’s 600-MW power needs scheduled for delivery in August next year.
Masinloc Power offered the lowest bid at PHP5.6015 per kilowatt hour while GNPower bid is at PHP5.7392 per kWh.
Of the 600-MW power requirement, 500 MWs will be supplied by Masinloc Power and 100 MWs from GNPower.
Meralco said the CSP for the 600-MW power supply attracted eight parties, but only six submitted their qualification documents, technical proposal, and bid price.
Moreover, Mariveles Power Generation Corp. offered to supply 200 MWs electricity priced at PHP6.4017 per kWh while Quezon Power Philippines Ltd. Company offered to provide 400 MWs at PHP6.5487 per kWh.
These offers were below the PHP7.2609 per kWh reserve price set for the bidding.
On the other hand, the two other bidders —Southwest Luzon Power Generation Corp. and Therma Luzon Inc.— offered prices which are higher than the reserve price at PHP7.7303 and PHP8.3388 per kWh, respectively.
“The robust turnout of this CSP is a welcome development for Meralco’s continuing efforts to source sufficient power supply for its customers at the least cost possible,” Meralco Bids and Awards Committee for Power Supply Agreements (BAC-PSA) chairman Lawrence Fernandez said.
“We will now proceed with the post-qualification evaluation prior to issuance of Notices of Award and execution of PSAs,” Fernandez added. (PNA)
