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Manila Bulletin devider Business devider Meralco invites bids for 1,800-MW power supply in 2024

Meralco invites bids for 1,800-MW power supply in 2024

Published Nov 2, 2023 06:54 am

At A Glance

  • The Manila Electric Company is opening a competitive bidding process for 1,800 megawatts (MW) of power supply next year.<br>The Energy Regulatory Commission (ERC) earlier approved the termination of Meralco's power supply agreements with San Miguel's power generation units.<br>The termination was based on the expiration of the agreements.<br>Excellent Energy and Masinloc Power Partners were awarded 20-year contracts in 2021 to supply 1,200MW and 600MW of power respectively, starting in 2024 and 2025.<br>The competitive selection process (CSP) was initiated to meet the growing demand of Meralco's customers.<br>The Department of Energy issued a Certificate of Conformity for the Terms of Reference (TOR) regarding a 15-year contract to meet Meralco's 1800-MW baseload requirement starting in December 2024.<br>The pre-bid conference is scheduled for Nov. 20, 2023, and the bid submission deadline is set for Dec. 26, 2023.

The Manila Electric Co. (Meralco) said it will hold a competitive bidding for 1,800 megawatts of power supply next year after the Energy Regulatory Commission (ERC) approved the termination of its power supply deal with San Miguel's power generation unit.

In a statement on Thursday, Nov. 2, Meralco announced the initiation of the competitive selection process (CSP) to address the growing demand from its customers and ensure the fulfillment of their electricity supply and distribution requirements.

The CSP is a mechanism that enables distribution companies, such as Meralco, to engage in competitive public bidding for the purchase of electricity.

Meralco’s CSP notice came weeks after receiving the go signal from the ERC to terminate its power supply agreements with San Miguel Corp. Global Power Holdings Inc.'s Excellent Energy and Masinloc Power Partners “on the basis that it’s already lapsing.”

In 2021, Excellent Energy and Masinloc Power were awarded 20-year contracts to supply 1,200MW and 600MW of power, scheduled to commence in 2024 and 2025, respectively.

Meralco had previously stated that the termination of these power supply agreements would not affect its operations.

“This CSP is meant to replace the capacity covered by Meralco’s 2021 PSAs with Excellent Energy Resources Inc. (EERI) and Masinloc Power Partners Co. Ltd. (MPPCL) which were terminated earlier this year,” the company said.

“The Energy Regulatory Commission approved the termination of contracts just last month,” it added.

The commencement of the CSP also follows the Department of Energy's issuance of a Certificate of Conformity for the Terms of Reference (TOR) regarding a 15-year contract to meet Meralco's 1800-MW baseload requirement beginning in December 2024.

“Through its Bids and Awards Committee for power supply agreements (PSAs), Meralco calls on interested power generation companies to participate in the CSP, with the Submission of Expression of Interest due on November 13, 2023,” Meralco said.

The pre-bid conference is slated for Nov. 20, 2023, and the deadline for bid submission has been set for Dec. 26, 2023.

Related Tags

electricity cost Energy Regulatory Commission (ERC) Manila Electric Co. (Meralco)
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