The Manila Electric Company (MERALCO) has obtained the lowest offer for its 600 megawatt (MW) baseload supply requirement through a Competitive Selection Process (CSP).
Masinloc Power Co. Ltd. offered the best bid at Php 5.6015 per kilowatt hour (kWh) total levelized cost of electricity rate (LCOE), including line leasing costs and value-added tax, for 500 MW capacity.
“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,” said MERALCO BAC-PSA Chairman Lawrence S. Fernandez.
In a statement released by MERALCO, out of the eight companies that showed interest in the CSP, only six submitted their qualification materials, technical proposals, and pricing offers.
Meanwhile, GNPower Dinginin Ltd. Co. proposed to fulfill the remaining 100 MW baseload demand at an LCOE rate of Php 5.7392 per kWh.
The other bids were from Mariveles Power Generation Corporation, which proposed a rate of Php 6.4017 per kWh for 200 MW of supply, and Quezon Power Philippines Limited Co., which submitted a bid of Php 6.5487 per kWh for 400 MW of baseload capacity.
MERALCO noted that its CSP was carried out in strict accordance with the laws and regulations established by the Energy Regulatory Commission (ERC) and the Department of Energy (DOE).
“The CSP ensures an open and transparent process that ensures fairness and integrity,” Fernandez added.
The resulting 15-year Power Supply Agreements (PSAs) will undergo regulatory review and require approval from the Energy Regulatory Commission (ERC) before taking effect on August 26, 2025.
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