The Manila Electric Company (Meralco) described the baseless claims made by the Power for People coalition that its power supply contracts are "unfavorable" to consumers.
Meralco is committed to sourcing the least-cost available supply through a transparent, competitive selection process (CSP), among other things.
"We strictly adhere to the requirements and standards set by the government, including securing prior approval from the Department of Energy (DOE) of our Power Supply Procurement Plan and the corresponding Terms of Reference (TOR) of the CSPs. These TORs also considered suggestions of the Energy Regulatory Commission (ERC) chairperson before they were published," Meralco vice president and head of Corporate Communications Joe R. Zaldarriaga said, providing reassurance and confidence in its processes.
The CSP involving the 1,200MW baseload PSA was awarded to South Premiere Power Corporation after it submitted the lowest bid of P7.0718 per kWh. This bested the P7.1006 per kWh offer of the joint venture of Limay Power Inc. and San Roque Hydropower Inc. for 150MW capacity, as well as First Natgas Power Corporation's bid of P8.4489 per kWh, which was deemed non-compliant as the offer went beyond the reserve price set for the bidding.
For the 1,800 MW CSP, Meralco secured the best bids from three generation companies. GNPower Dinginin Co. Ltd., Mariveles Power Generation Corporation, and Excellent Energy Resources Inc. offered P6.8580 per kWh (300 MW), P6.9971 per kWh (300MW), and P7.1094 per kWh (1,200MW), respectively.
"The CSPs involve an open and competitive process with the ultimate goal of securing the lowest bid from qualified generation companies with no preferential treatment. Thus, the allegations that contracts emanating from CSPs are anti-competitive have no basis," he added.
Previous CSPs of Meralco are also proof of transparency, as these are required to comply with the DOE's policies and ERC's rules.
"We would like to assure our customers that all power supply contracts resulting from our CSPs undergo a strict ERC review and approval before implementation. This is to ensure that rates are fair and reasonable, reflecting our commitment to our customers," Zaldarriaga concluded.
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