Six firms eye Meralco’s 400-MW contract

THE SUBSIDIARIES of First Gen Corp., San Miguel Global Power Holdings Corp. (SMGP), Aboitiz Power Corp. (AboitizPower), and Filinvest Development Corp. have expressed interest in competing for Manila Electric Co.’s (Meralco) 400-megawatt (MW) power supply contract, the power distributor said on Thursday.

“Following the success of our recent CSP (competitive selection process) for 600 MW of baseload supply where Meralco received very competitive offers, we welcome the continued interest of the country’s major energy players to join this CSP round that will help us ensure availability of least-cost supply for our customers starting next year,” Meralco Bids and Awards Committee Chairman Lawrence S. Fernandez said in a statement.

Six companies participated in the pre-bid conference for the power supply contract on Thursday, according to Meralco.

The participants include First Gas Power Corp. and First Natgas Power Corp., both subsidiaries of Lopez-led First Gen Corp. Masinloc Power Co. Ltd. and Sual Power, Inc., part of SMGP, the power arm of San Miguel Corp., also took part.

GNPower Dinginin Ltd. Co., representing a private limited partnership that includes AboitizPower’s Therma Power, Inc., AC Energy & Infrastructure Corp., and Power Partners Ltd. Co., joined the conference. Additionally, FDC Misamis Power Corp., a subsidiary of FDC Utilities, Inc., which is under Filinvest Development, also participated.

“We look forward to the participation of these prospective bidders during the bid submission deadline and bid opening scheduled on Oct. 1,” Mr. Fernandez said.

The resulting 15-year power supply agreements for Meralco’s 400-MW mid-merit requirement are targeted to commence by Aug. 26, 2025. These agreements will undergo the review and approval process of the Energy Regulatory Commission (ERC) before implementation.

The power distributor recently announced that it had secured the lowest offers for its 600-MW supply requirement from power generation companies under SMGP and AboitizPower.

“We are happy that the main objective of the CSP, which is to secure the least cost supply for our customers, has been achieved. We hope that there will be no further delays as we work towards immediate signing of the PSAs resulting from the 600-MW CSP,”  Meralco Senior Vice-President and Head of Regulatory Management Jose Ronald V. Valles said.

“We trust that ERC evaluation and approval will also be swift so customers can enjoy these very low rates upon scheduled delivery date in August 2025,” he added.

Meralco’s majority owner, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc.

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