SMC, Aboitiz units win Meralco supply deals
Energy firms controlled by Ang-led San Miguel Corp. and the Aboitiz Group have placed the best bids to supply 600 megawatts (MW) of power to utility giant Manila Electric Co.
Ang-owned San Miguel Corp. and the Aboitiz Group have secured the lowest bids to supply 600 megawatts of power to utility company Manila Electric Co. (Meralco), according to reports. Mariveles Power Gen Corp. (MPGC), Sual Power Inc. (SPI) and GNPower Mariveles Energy Center (GMEC) emerged as the top bidders, with bids of P5.3573 and P5.4357 per kilowatt-hour (kWh) for 200 MW each.
GMEC initially bid P5.5789 per kWh for the full 600 MW, but later reduced its bid to 200 MW capacity. Among the nine companies that applied for the auction, only six submitted their qualifications, technical proposals and bid prices. Masinloc Power Co. Ltd. and Therma Luzon Inc. also applied but were outbid. The Meralco BAC-PSA (Bids and Awards Committee for Power Supply Agreements) found that most offers were below the reserve price, except for Energy Development Corp. The auction process adhered to transparency and fairness as mandated by the Department of Energy and the Energy Regulatory Commission.
The resulting 15-year Power Supply Agreement (PSA) will undergo a post-qualification evaluation before being implemented by the ERC. The first 300 MW of baseload supply should be delivered by February 26, 2028, while the remaining 300 MW is due by February 26, 2029.
Written by urgent.news from Philippine Star Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
