Meralco secures 400-MW supply requirement from SMC’s Limay Power

February 28, 2024 | 12:00am

MANILA, Philippines — Manila Electric Co. (Meralco) yesterday secured 400 megawatts (MW) for its interim supply requirements following a competitive selection process.

Winning bidder San Miguel Corp.’s Limay Power Inc. offered a total electricity rate of P6.2708 per kilowatt-hour, including value-added tax (VAT) and line rental, for the entire 400 MW base load requirement, Meralco said.

Two out of three interested bidders have turned in their qualification documents, technical proposal and bid price.

Masinloc Power Co. Ltd. sealed the next best bid at P6.2957/kwh, VAT and line rental inclusive, for 195 MW of capacity.

According to Meralco’s Bids and Awards Committee for Power Supply Agreements (BAC-PSA), both bids passed the criteria contained in bidding documents and pre-qualification evaluation.

Both offers were compliant with the P6.3512/kwh reserve price set for the bidding.

The BAC-PSA will conduct a post-qualification evaluation and submit its report to Meralco’s board of directors for approval of the winning power supplier prior to the issuance of a notice of award.

The terms of reference conformity to Meralco’s Power Supply Procurement Plan (PSPP) was reviewed and approved by the Department of Energy (DOE).

The PSPP evaluates the need for additional available capacity to augment supply to customers through an interim power supply agreement (IPSA)

The resulting IPSA, subject to regulatory proceedings, will be implemented once approved by the Energy Regulatory Commission.