Meralco reviewing power auction terms

Manila Electric Co., the biggest retailer of electricity, is reviewing the terms of reference of the competitive selection process on its 1,200-megawatt brownfield power supply requirement after only one bidder submitted a bid.

“We are studying that now. Of course we want everyone to be able to join but there are considerations why the TRO for the greenfield is very stringent,” Meralco president and chief executive officer Ray Espinosa said.

Meralco held the CSP or bidding for its 1,200-MW requirement on September 10. It declared a failure after only Atimonan One Energy Inc. of Meralco PowerGen Corp. made a bid.

“They (bidders) have different reasons for not joining. You cannot adjust everything just to accommodate all their points. We have to study all of their comments and then see what is the best way for us forward to ensure it would be a successful bidding,” Espinosa said, adding the re-bidding will take place within the year.

Topics: Manila Electric Co. , Meralco , power auction
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