More companies interested in MERALCO power auction

transmission lines

More power generation firms have signified their interest to take part in the Manila Electric Company’s (MERALCO) competitive auction to fill its 1,800-megawatt power requirement.

MERALCO utility economics head Lawrence Fernandez said that additional companies sent their Expressions of Interest close to the deadline, which was moved to November 13 from the day prior due to the onslaught of Typhoon Ulysses.

Fernandez did not mention the total number of interested parties since some of the bidders’ participation feeds were still being cleared by banks. The executive added that he still has to present the final list of participants to the Third Party Bids and Awards Committee (TPBAC) before disclosing further information to the public.

The pre-bid conference will be held on December 17, in which observers from the Department of Energy and the Energy Regulatory Commission would be invited.

Back in October, the TPBAC received Expressions of Interest from nine power generation companies, which offered capacities amounting to 3,600 MW using a variety of technologies. 

The identities of the nine interested parties were not revealed, citing non-disclosure agreements, though several of them on separate occasions have declared their intentions to participate. Among them are Atimonan One Energy, Inc., a wholly-owned subsidiary of Meralco PowerGen Corporation (MGen); Ayala-led AC Energy; San Miguel Corporation; Aboitiz Power Corporation; and Consunji-led Semirara Mining and Power Corporation. MGen is MERALCO’s power generation arm.

MERALCO, the country’s largest power distributor, will award the winning bidders with a 20-year power supply agreement.

Deadline of bid submissions is on January 25, 2021, in which the bids would be opened on the same day. Only then would MERALCO reveal its preferred price to the bidders.

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