SMC, Aboitiz power units secure Meralco’s power supply deals
The units of energy giants San Miguel Corp. (SMC) and Aboitiz Group have secured 15-year baseload supply contracts for Pangilinan-led Manila Electric Co. (Meralco).
The electricity distribution giant said in a statement Tuesday that it successfully conducted the auction, where a total of 600-megawatt (MW) power supply requirement was up for grabs.
“The robust turnout of this CSP (competitive selection process) is a welcome development for Meralco’s continuing efforts to source sufficient power supply for its customers at the least cost possible,” said Lawrence Fernandez, Meralco’s chairman for bids and awards committee for power supply agreements (PSAs).
“We will now proceed with the post qualification evaluation prior to issuance of Notices of Award and execution of PSAs,” he added.
SMC’s Masinloc Power Co. Ltd. provided the best offer at P5.6015 per kilowatt-hour (kWh) total levelized cost of electricity rate (LCOE) for 500-MW capacity.
GNPower Dinginin Ltd. Co. of the Aboitiz Group, meanwhile, won for the supply of the balance of 100-MW baseload requirement at P5.7392 per kWh.
These supply requirements are poised for delivery by August 2025.
The Meralco official said that the recent bidding was “an open and transparent process that ensures and fairness and integrity.”
Another up for auction is a 400-MW power supply deal, with the bid submission deadline set on Oct. 1.
