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Meralco declares 3 ‘best bids' for 1,200 MW

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Power distributor Manila Electric Company (Meralco) declared three “best bids” out of the five offers it received for the supply of 1,200 megawatts (MW).

The three best bids are from Phinma Energy Corporation, with a bid price of P4.884 per kilowatt hour (kWh); San Miguel Energy Corporation, which offered P4.929 per kWh; and South Premiere Power Corp. (SPPC), with a bid offer of P4.93 per kWh.

Phinma Energy offered to supply Meralco 200MW while San Miguel’s offer is at 330MW. SPPC, meanwhile, wants to supply Meralco 670MW. 

“Pursuant to Section 5 of the Instructions to Prospective Bidders, the aforesaid bidders with the best bids will now undergo post-qualification within seven days from date hereof. Thereafter, the third-party bids and awards committee (TPBAC) shall issue respective notices of award in favor of those who satisfactorily passed post-qualification,” the five-man committee said in a notification of best bids released late Monday.

The three firms bested the offers of two more power firms. 

SMC Consolidated Power Corp. (SCPC) and Masinloc Power Partners  Co. Ltd., which are both SMC affiliates, also participated in the auction. 

SCPC offered to supply Meralco 200MW while Masinloc Power wanted to supply 220MW to the utility firm. Meralco did not say their bid prices. 

In all, the five firms offered a total capacity of 1,630MW to supply Meralco’s requirement.

Meralco utility economics head Lawrence Fernandez, in an interview, said the CSP (Competitive Selection Process) was for only 1,200MW as against the 1,630MW offered capacity of the bidders that attended. “So, not all offers could be accepted. The three bidders with the best bids submitted the lowest cost offers,” he said.

The TPBAC’s findings were based on a nondiscriminatory pass/fail assessment for completeness.

Previously, 11 firms submitted Expressions of Interest (EOI) for the CSP for the 1,200MW baseload requirement, effective December 26, 2019, with an aggregated offered capacity of 2,830MW.

Meralco is soliciting interest for its power requirements. It has put up for bidding via CSP (Competitive Selection Process) a five-year contract for 500MW, a 20-year contract for 1,200MW and another 10-year contract for 1,200MW.

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