Power retailer Manila Electric Co. is seeking authority from the Energy Regulatory Commission to implement six power supply agreements involving a combined capacity of 1,700 megawatts.
Meralco sought approval for its PSA with San Miguel Energy Corp., First Gen Hydro Power Corp., South Premiere Power Corp.and Phinma Energy Corp. Meralco has two separate PSAs with SPPC and Phinma Energy.
Meralco previously bid out its 500-megawatt mid-merit capacity requirement effective Dec. 26, 2019 for a term of five years. First Gen Hydro, Phinma Energy and SPPC were declared to be the best bidders by the third-party bids and awards committee.
The bidding on Sept. 11 is in compliance with the competitive selection process of the Department of Energy.
Meralco also bid out the 10-year contract for the supply of 1,200 MW baseload power supply effective Dec. 26 with Phinma Energy, SMEC and SPPC declared as the winning bidders.