MANILA, PHILIPPINES 02 SEPTEMBER 2026—The Manila Electric Company (Meralco) has secured the best bids for its 600-megawatt (MW) supply requirement through the government-mandated Competitive Selection Process (CSP).
At the Bid Submission Deadline on September 1, six (6) of the nine (9) bidders that expressed interest to participate in the CSP submitted their qualification documents, technical proposals, and bid prices.
During the Bid Opening on the same day, the Bids and Awards Committee for Power Supply Agreements (BAC-PSA) announced that Mariveles Power Gen Corp (MPGC), Sual Power Inc (SPI), and GNPower Mariveles Energy Center (GMEC) submitted the lowest bid prices for Meralco’s supply requirement.
MPGC offered a total levelized cost of electricity (LCOE) of P5.3573 per kilowatt-hour (kWh) for 200 MW capacity and SPI offered an LCOE of P5.4357 per kWh, also for 200 MW.
Meanwhile, GMEC put in an LCOE of P5.5789 per kWh for 600 MW supply. The supplier eventually reduced its offered capacity to 200 MW—completing the entire capacity requirement for this CSP.
The other bidders were Masinloc Power Co. Ltd which offered P5.6290 per kWh for 200 MW and Therma Luzon Inc. which offered P5.6988 per kWh for 194 MW. All offers were inclusive of the Value-Added Tax (VAT) and a capped line rental charge.
Except for Energy Development Corp., all other offers received were below the reserve prices set for this CSP, according to the Meralco BAC-PSA.
All submissions underwent a stringent Pass/Fail completeness assessment and pre-qualification evaluation.
“The Meralco BAC-PSA 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 Chairman Lawrence S. Fernandez said.
CSP observers, which included consumer groups and representatives of the Philippine Competition Commission (PCC), also witnessed the submission of bids. In addition, the proceedings were streamed live on Meralco’s YouTube page.
“The BAC-PSA will conduct a post-qualification evaluation and submit its recommendation and report to Meralco’s Board of Directors for approval of the best bids as the winning power suppliers prior to the issuance of Notices of Award,” Fernandez said.
The resulting 15-year PSA from this CSP will also be submitted for the review and approval of the ERC before being implemented. The initial 300 MW baseload supply is targeted to be delivered by February 26, 2028, and the additional 300 MW is due to be supplied beginning February 26, 2029.
