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The new power supply contract from Manila Electric Company (MERALCO) has attracted top bidders, including subsidiaries of prominent energy firms Aboitiz Group, San Miguel, and First Gen Corporation.
The new power supply contract from Manila Electric Company (MERALCO) has attracted top bidders, including subsidiaries of prominent energy firms Aboitiz Group, San Miguel, and First Gen Corporation.
In a report by Philippine Star, MERALCO said the coal divisions of Aboitiz Power Corporation, GNPower Dinginin Ltd. Co., and Therma Luzon Inc. have shown a desire to acquire the power supply agreement (PSA).
Meanwhile, San Miguel Global Power’s subsidiaries, Mariveles Power Generation Corporation and Masinloc Power Co. Ltd., are also vying to secure the supply contract. Additionally, First Gas Power Corporation and First NatGas Power Corporation are keen on securing the PSA.
These offers surged after MERALCO announced the onset of the competitive selection process (CSP) aimed at securing 600 megawatts (MW) of baseload supply. These bids are intended to meet the firm’s upcoming power requirements, with the 15-year power supply agreement slated to start on August 26, 2025.
Furthermore, coal suppliers of the Consunji Group, namely Quezon Power (Philippines) Ltd. Co. and Southwest Luzon Power Generation Corporation, also expressed their interest in bidding for the PSA.
MERALCO bids and awards committee for PSA chairman Larry Fernandez said that energy giants participating in the bidding revealed the private sector’s goal to guarantee sufficient and cost-competitive supply for its consumers.
After the June 25 deadline for the submission of expressions of interest, with the winning bidders set to be announced on August 2, MERALCO reported that eight interested bidders collectively proposed a total contract capacity of 1,870 MW.
In other developments, the identities of the six potential power suppliers for the 400 MW mid-merit supply contract will be made public by the Pangilinan-led power distributor the next week.
