Meralco consortium submits lowest tariff bid for New Clark City power distribution
The Manila Electric Company (Meralco) has partnered with a major Japanese company, Marubeni Corporation, to bring the lowest power distribution rate in the country to New Clark City.
The Meralco-Marubeni Consortium composed of Meralco, Marubeni, The Kansai Electric Power Co., Inc., and CHUBU Electric Power Co., Inc. submitted the lower tariff bid of PhP0.6188 per kilowatt hour, besting the PhP0.9888/kwh proposal by the Aboitiz-KEPCO Consortium of the Olongapo Energy Corporation and KEPCO Philippines Holdings, Inc.
This was determined during the Opening of Technical and Financial Proposals held at the BCDA Corporate Center in Taguig City Tuesday. Present were representatives from the Asian Development Bank (ADB), BCDA's transaction advisor for the project.
New Clark City is envisioned to be the first smart, green and sustainable metropolis in the country where locators and residents will enjoy low utility rates. BCDA earlier set the tariff ceiling for power distribution at PhP1.25/kwh.
BCDA Senior Vice President and Chief Finance Officer Atty. Nena D. Radoc, also the chairperson of the Joint Venture Selection Committee, said the Meralco-Marubeni Consortium would undergo post-qualification process as part of due diligence before the award.
BCDA targets to sign the Joint Venture Agreement with the winning partner by early next year.
New Clark City will have the first completely smart power grid in the country. Supported by state-of-the-art facilities comparable with other smart cities throughout the world, the New Clark City smart grid also has better reliability standards. Locators can likewise enjoy access to real-time information from the distribution utility, allowing them to manage their electricity consumption more effectively.
Phase 1 of the New Clark City development includes the construction of the National Government Administrative Center (NGAC), and the world-class sports facilities to be used for the Philippines' hosting of the Southeast Asian Games in 2019.