Meralco cancels plan to auction 1,200 MW

Manila Electric Co., the biggest retailer of electricity, cancelled the planned competitive selection process for 1,200 megawatts of greenfield baseload capacity needed by 2024 and will conduct a new CSP covering 1,800 MW of power.

Meralco said it would push the new CSP to a later date amid low oil prices and the impact of the enhanced community quarantine that prevents face-to-face interaction.

“With the delay in the second round for the 1,200 MW CSP, the decision was to combine it with another CSP we were supposed to conduct this year. That was why it became 1,800 MW,” Meralco head of utility economics Lawrence Fernandez said.

Meralco said it updated its power supply procurement plan and distribution development plan. “It was determined by Meralco that the bidding for the greenfield baseload capacity of 1,200 COD [commercial operations date] 2024 shall be discontinued,” the company said.