In a bid to broaden the participation of electricity generating firms in the country, the Manila Electric Company (Meralco) is still assessing the revisions in the terms of reference (TOR) of the competitive selection process (CSP) of its 1,200 MW greenfield capacity tender.
“The TOR is being updated and will go through the Third Party Bids and Awards Committee (TPBAC) for republication. The deadlines, such as for the submission of Expressions of Interest, will be adjusted to consider the new republication date,” Meralco Vice President Lawrence S. Fernandez was quoted as saying in a Manila Bulletin report.
The energy firm issued a notice last year stating that it seeks to bid out the power supply agreement (PSA) for its greenfield capacity supply portfolio by February this year. The expected capacity is set to deliver in 2024.
According to the report, the bidding for the new supply capacity will account for the future supply requirements of Meralco in a bid to serve its captive consumers or those who are unable to exercise their power of choice per Retail Competition and Open Access (RCOA) policy in the industry.
As the PSA is being solicited through competitive bidding, it is highly expected that the power rate to be cornered from the power generator-bidders would be the cheapest when reflected in the bills of consumers.