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San Miguel unit submits best bid for Meralco supply requirements

Business

San Miguel unit submits best bid for Meralco supply requirements

By Gabriell Christel Galang

The Manila Electric Co. (Meralco) has secured the best bid from Limay Power, Inc. (LPI) to meet its 400-megawatt (MW) power supply requirements.

In a statement, Meralco said that two out of the three bidders that initially showed interest in the competitive selection process (CSP) have submitted their qualification documents, technical proposals, and bid prices on Tuesday, Feb. 27.

LPI, a subsidiary of San Miguel Global Power Holdings Corp., emerged as the winning bidder by proposing a total headline electricity rate of P6.2708 per kilowatt-hour (kWh), inclusive of value-added tax (VAT) and line rental, for the entire 400-MW baseload requirement.

The second-best bid came from Masinloc Power Co. Ltd., offering a rate of P6.2957 per kWh, including VAT and line rental, for a capacity of 195 MW.

Both bids fall within the P6.3512 per kWh reserve price set for the bidding process.

Meralco's Bids and Awards Committee for Power Supply Agreements (BAC-PSA) has verified that the submissions meet the criteria outlined in the bidding documents and pre-qualification evaluation.

The BAC-PSA is now slated to conduct a post-qualification evaluation and present its recommendation and report to Meralco's Board of Directors for approval of the winning bid, paving the way for the issuance of a Notice of Award to the selected power supplier.

Related Tags

electricity competitive selection process Manila Electric Co. (Meralco)

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