By Danessa O. Rivera (The
Philippine Star) | Updated December 20, 2015 - 12:00am
Meralco plans to bid out 250-MW
peaking power
MANILA, Philippines – Manila
Electric Co. (Meralco) is eyeing to conduct a competitive bidding for nearly
250-megawatt (MW) of capacity to augment peaking power supply in its franchise
area in time for summer of 2016.
The country’s largest power
distributor has received three proposals for peaking power supply, which will
be put for a price challenge, Meralco president Oscar S. Reyes told reporters
in an informal briefing.
“We’re publishing a price challenge
for an interim power supply agreement in the order of about 245 MW,” he said.
The three power firms that submitted
unsolicited proposals are Toledo Power Corp. for 28 MW, Panay Power Corp. for
45 MW and 1590 Energy Corp. for 170 MW, for a total of 243 MW.
Meralco will publish an invitation
for price challenge and will be accepting offers until Dec. 28.
The supply will cover the February
to July period, specifically the trading intervals 10 a.m. to 9 p.m. from
Mondays to Saturdays.
“Whoever gets it, we will enter into
interim PSA,” Reyes said.
The agreement will commence once the
Energy Regulatory Commission (ERC) approves the deal and will expire on Feb.
27, 2017, which can be extended for up to three years.
The auction is part of the
distribution utility’s way of complying with the Energy department’s directive
of conducting competitive selection process (CSP), the company’s top official
said.
“We try to work within the [CSP]
framework to see if it works,” Reyes said.
Earlier this month, Meralco chairman
Manuel V. Pangilinan said the company will no longer pursue a legal case
against the implementation of the CSP.
Last Nov. 4, the ERC issued the
go-signal for distribution companies and electric cooperatives to conduct the
controversial competitive bidding to generation companies to secure supply contracts
for their captive markets.
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