MANILA — Sual Power Inc. was selected to supply Manila Electric Company’s (Meralco) 200-megawatt (MW) baseload requirement after offering the lowest rate of PHP4.2955 per kilowatt hour (kWh), the distribution utility announced Tuesday.

Meralco said six of the 15 generation companies that expressed interest submitted a combined capacity of 531 MW during the bidding held on Feb. 16.

“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 Lawrence Fernandez, chair of Meralco’s Bids and Awards Committee for Power Supply Agreements (BAC-PSA).

Other companies considered included Mariveles Power Generation Corporation, which offered PHP4.3805/kWh for 200 MW; Bac-Man Geothermal Inc., PHP4.5187/kWh for 35 MW; San Manuel Solar Inc., PHP4.5787/kWh for 46 MW; ACEN Corporation, PHP5.2087/kWh for 25 MW; and First Gen Hydro Power Corporation, PHP5.4906/kWh for 25 MW.

Meralco said consumer groups were tapped as observers for the bidding, and the submission process was livestreamed on Meralco’s YouTube channel.

The competitive selection process follows Department of Energy and Energy Regulatory Commission (ERC) requirements. Securing the 200-MW baseload supply is part of Meralco’s compliance with the Renewable Portfolio Standards, pending ERC approval.