Home Economy Meralco seeks bidders for 1,800-MW power supply

Meralco seeks bidders for 1,800-MW power supply

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PHILIPPINE STAR/ RUSSELL PALMA

MANILA ELECTRIC COMPANY (Meralco) has started seeking bidders to supply 1,800 megawatts (MW) of electricity needed to meet the growing demand of its customers, the power distribution company announced on Thursday.

“Through its bids and awards committee for power supply agreements, Meralco calls on interested power generation companies to participate in the competitive selection process,” the company said in an e-mailed statement.

The deadline to submit an expression of interest is Nov. 13, it noted.

There will be a meeting for bidders on Nov. 20, and the last day to submit bids is Dec. 26.

The competitive selection process aims to find new suppliers for the electricity that was supposed to be supplied by Excellent Energy Resources, Inc. and Masinloc Power Partners Co. Ltd.

Their contracts with Meralco were “terminated earlier this year,” the company said.

The two companies, both under the San Miguel group, were supposed to start delivering Meralco’s needed capacity by 2024 and 2025 after bagging the supply contracts in 2021.

The Energy Regulatory Commission last month approved the withdrawal of the power supply agreement (PSA) application jointly filed by Meralco and San Miguel.

In March, Meralco said that San Miguel had submitted notices for the termination of the PSAs, effective April 1.

Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera

Neil Banzuelo




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