MANILA Electric Co. (Meralco) on Tuesday said that San Miguel Global Power Holdings Corp.’s Sual Power Inc. had submitted the lowest offer for a 200-megawatt (MW) baseload supply requirement following a competitive selection process.
The company said Sual Power offered a price of P4.2955 per kilowatt-hour (kWh) for the entire 200 MW, which was declared as the best bid.
The next best bids were those of Mariveles Power Generation Corp. (P4.3805 per kWh for 200 MW); Bac-Man Geothermal Inc. (P4.5187 per kWh for 35 MW); San Manuel Solar Inc. (P4.5787 per kWh for 46 MW); ACEN Corp. (P5.2087 per kWh for 25 MW); and First Gen Hydro Power Corp. (P5.4906 per kWh for 25 MW).
Meralco noted that out of the 15 firms that initially expressed interest in the bidding, six generation companies with a total offered capacity of 531 MW submitted compliant bids on Monday.
Lawrence Fernandez, chairman of Meralco’s bids and awards committee, said the utility had “successfully secured the required power supply for customers at the lowest possible cost, and [it] was achieved through an open and transparent process.
Meralco said the bids committee would be conducting a post-qualification evaluation prior to the issuance of a notice of award and execution of a power supply agreement.
The utility said the four-year supply agreement would cover the 200-MW baseload requirement under renewable portfolio standards, subject to the approval of the Energy Regulatory Commission.
Meralco shares closed at P598.00 apiece on Monday.
