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MANILA – The Manila Electric Company (Meralco) on Tuesday announced that it secured a 400-megawatt interim power supply requirement following a successful Competitive Selective Process (CSP).
Meralco awarded the 400-MW Interim Power Supply Agreement (IPSA) to Limay Power, Inc. as it offered a total headline electricity rate at PHP6.2708 per kilowatt-hour (kWh), inclusive of value-added tax (VAT) and line rental.
The other bidder was Masinloc Power Co. Ltd., which offered a rate of PHP6.2957 per kWh inclusive of VAT and line rental inclusive for 195-MW capacity.
The IPSA with Limay Power will still be subjected to regulatory proceedings.
Once approved by the Energy Regulatory Commission, the deal will be effective until February 2025.
Earlier, Meralco first vice president and regulatory management head Jose Ronald Valles said in a briefing that the CSP for the 260-MW IPSA received no bids until the scheduled opening on Monday.
Valles added that distribution utility firm will be requesting for another round of CSP for the 260-MW IPSA.
Meralco executive vice president and chief operating officer Ronnie Aperocho noted in the same briefing that these interim power supply requirements are crucial in ensuring stable electricity supply during the dry season and the ongoing El Niño. (PNA)
