Manila Electric Co.is seeking an approval from the Department of Energy for the new terms of reference for the rebidding of 180 megawatts of baseload supply needed for the dry months after the first round of auction failed.
Meralco first vice president and head regulatory management Jose Ronald Valles said in a letter to the DOE dated April 4 that no prospective bidder submitted an expression of interest by the March 31 deadline.
The Third Party Bids and Awards Committee declared the bidding a failure. TPBAC also informed Meralco that a second round of bidding may be conducted pursuant to Section 9 of the 2018 competitive selection process rules.
The TBPAC said the TOR might need to be revised to account for the filing before and approval process by the Energy Regulatory Commission of the power supply agreement prior to its implementation and considering that the required contract period is only up to July 25, 2022.