SMC, Aboitiz Units Offer Lowest Bids for Meralco's 200-MW Supply

MANILA, Philippines — The subsidiaries of energy giants San Miguel Corp. (SMC) and Aboitiz Power could lock in Manila Electric Co.’s (Meralco) 600-megawatt (MW) supply deal after they submitted the lowest offers at a recent bidding. In a statement on Tuesday, Pangilinan-led Meralco said six groups had joined in the auction, where Mariveles Power Gen Corp (MPGC), Sual Power Inc (SPI), and GNPower Mariveles Energy Center (GMEC) proposed the lowest bid prices. MPGC and SPI, both under SMC’s power arm San Miguel Global Power Holdings Corp., offered P5.3573 and P5.4357 per kilowatt-hour (kWh), respectively. Both offers were for 200 MW supply. Aboitiz Power Corp.’s GMEC, meanwhile, offered P5.5789 per kWh for the entire 600 MW supply. But Meralco said the firm decided to slash its offered capacity to 200 MW, completing the full capacity requirement. The other bidders were: Masinloc Power Co. Ltd, Therma Luzon Inc., and Energy Development Corp. “The Meralco BAC-PSA (Bids and Awards Committee for Power Supply Agreements) has fully complied with its mandate to conduct the bid in an open and transparent manner to achieve the least cost of electricity in accordance with rules and regulations set by the Department of Energy and the Energy Regulatory Commission (ERC),” Meralco BAC-PSA chair Lawrence Fernandez said. The company will conduct a post-qualification evaluation prior to issuance of notice of award. The planned 15-year power supply deal from the bidding would still be up for review and go signal of power regulators. Meralco seeks to have the initial 300 MW baseload supply by February 26, 2028. The remaining capacity is eyed by February 26, 2029. /pai