Manila Electric Company (Meralco) has secured the lowest bid for its 200-megawatt (MW) baseload supply, awarding the contract to Sual Power Inc. (SPI) at PHP 4.2955 per kilowatt-hour (kWh).

Of 15 companies initially expressing interest, six submitted compliant offers totaling 531 MW in the competitive selection process (CSP) held on February 16. SPI’s bid was deemed the most cost-efficient, followed by offers from Mariveles Power Generation Corporation (P4.3805/kWh for 200 MW), Bac-Man Geothermal Inc. (P4.5187/kWh for 35 MW), and San Manuel Solar Inc. (P4.5787/kWh for 46 MW). ACEN Corporation (P5.2087/kWh for 25 MW) and First Gen Hydro Power Corporation (P5.4906/kWh for 25 MW) rounded out the field.

“As in previous years, this CSP has successfully secured the required power supply for customers at the lowest possible cost, achieved through an open and transparent process,” said **Lawrence S. Fernandez, Meralco Bids and Awards Committee for Power Supply Agreements (BAC-PSA) Chairman**.

Meralco said the CSP was carried out in full compliance with regulations issued by both the Energy Regulatory Commission (ERC) and the Department of Energy (DOE), with proceedings streamed live on its YouTube page. 

A post-qualification evaluation will precede the issuance of a Notice of Award and the execution of the Power Supply Agreement (PSA) with SPI. The PSA will cover Meralco’s 200 MW baseload requirement, contributing to compliance with the Renewable Portfolio Standards, pending approval by the ERC.

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