The Manila Electric Company (MERALCO) has selected GNPower Dinginin Ltd. Co. (GNPD) as its lowest bidder for the 400-megawatt (MW) mid-merit supply requirement in the latest competitive selection process (CSP).
Three generation companies submitted their qualification documents, technical proposals, and bid prices. All bids came in below the reserve price of P8.0585 per kilowatt-hour (kWh) for the levelized cost of electricity (LCOE) set for the auction.
GNPD emerged as the best bid, offering a total LCOE of P7.6816 per kWh for the full 400 MW supply. Sual Power Inc. provided a bid of P7.7416 per kWh for 300 MW of supply, and Masinloc Power Co. Ltd submitted an offer of P7.8567 per kWh for 200 MW.
Meralco’s Bids and Awards Committee for Power Supply Agreements (BAC-PSA) confirmed that all submissions met the criteria outlined in the bidding documents and passed the pre-qualification evaluation.
“This CSP has once again achieved its goal of securing the needed power supply for customers at the least cost through an open and transparent process,” said BAC-PSA Chairman Lawrence S. Fernandez.
A post-qualification evaluation will follow before the issuance of the Notice of Award and the execution of the Power Supply Agreement (PSA) with the winning bidder.
Meralco said it conducted the CSP in compliance with regulations issued by the Energy Regulatory Commission (ERC) and the Department of Energy (DOE). The resulting 15-year PSA for the 400-MW mid-merit supply will undergo regulatory approval by the ERC before it becomes effective on August 26, 2025.
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