Meralco: Sual Power Inc. wins best bid for 200-MW supply requirement

The Pangilinan-led Manila Electric Company (Meralco) on Tuesday announced it secured the lowest bid for its 200-megawatt (MW) baseload power supply requirement from Sual Power Inc. (SPI).

In a news release, Meralco said SPI’s P4.2955 per kilowatt-hour (kWh) for the entire 2000-MW requirement was declared as “best bid” out of six generation companies who submitted compliant bids on February 16, 2026 covering a total offer capacity of 531 MW.

SPI bested the offers of P4.3805 per kWh for 200 MW of supply from Mariveles Power Generation Corp., P4.5187 per kWh for 35 MW from Bac-Man Geothermal Inc., P4.5787 per kWh for 46 MW from San Manuel Solar Inc. which offered P4.5787 per kWh for 46 MW, P5.2087 per kWh for 25 MW of supply from ACEN Corp., and P5.4906 per kWh for 25 MW from First Gen Hydro Power Corp.

“As in previous years, this CSP (Competitive Selection Process) has successfully secured the required power supply for customers at the lowest possible cost, achieved through an open and transparent process,” said Meralco Bids and Awards Committee for Power Supply Agreements (BAC-PSA) chairman Lawrence Fernandez said.

Meralco added that CSP observers, which included consumer groups, also witnessed the submission of bids. 

The proceedings were streamed live on Meralco’s YouTube page, according to the power distributor.

The company said its BAC-PSA will conduct a post-qualification evaluation prior to issuance of Notice of Award and execution of the Power Supply Agreement (PSA) with the winning bidder, SPI.

Meralco said the resulting PSA from the CSP will cover its 200 MW baseload requirement for compliance with the Renewable Portfolio Standards, subject to the approval of the Energy Regulatory Commission (ERC).

As a highly regulated entity, the power distributor said it conducted the CSP in full compliance with the rules and regulations issued by the ERC and the Department of Energy (DOE). — JMA, GMA Integrated News