MANILA Electric Co. (Meralco) said Wednesday that it had started the competitive selection process (CSP) for 600 megawatts (MW) of baseload supply needed to meet power requirements starting next year.

This followed the Department of Energy's (DOE) issuance of a certificate of conformity for the terms of reference (TOR) of the CSP, the distribution utility said.

The bidding involves a 15-year power supply agreement (PSA) that is targeted to start on Aug. 26, 2025.

The nominated power plants must be technically capable of producing the entire 600 MW, Meralco said.

Power suppliers with natural gas-fired power plants are encouraged to participate in the bidding and also prioritize the use of indigenous natural gas, it added.

Meralco's bids and awards committee has set the deadline for the submission of expressions of interest for June 25, while the pre-bid conference is scheduled on July 4. The bid submission deadline is Aug. 2, 2024.

The distribution utility said the conduct of CSPs is part of continuing efforts to ensure the availability of reliable, sufficient and cost-competitive power for its customers.

Meralco shares closed at P365 each on Tuesday.