Power generation companies have offered more than three times the capacity sought by Meralco in its latest power supply procurement, signaling strong competition for a relatively small baseload requirement.

Meralco said a total of 15 generation companies expressed intent to participate in its Competitive Selection Process (CSP), with combined offers reaching 725 megawatts (MW) against a requirement of 200 MW.

The procurement is intended to secure baseload power—electricity supplied continuously to meet minimum demand levels—as part of Meralco’s compliance with the Renewable Portfolio Standards (RPS), which require utilities to source a portion of their supply from renewable energy.

Under the CSP, Meralco is seeking a four-year power supply agreement, subject to approval by the Energy Regulatory Commission (ERC), and in line with its DOE-approved Power Supply Procurement Plan.

The utility has scheduled a pre-bid conference on January 15, with bid submissions due on February 16. Only companies that submit formal bids will be considered, with the selected supply targeted to begin delivery on January 26, pending regulatory approval.

Meralco said the level of interest reflects a competitive supply environment, as the utility continues to secure power contracts aimed at balancing reliability, regulatory compliance, and cost considerations for its customers.

How does an oversubscription of power supply bids shape pricing and procurement decisions in the electricity market?

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