{"id":329146,"date":"2024-08-27T00:29:20","date_gmt":"2024-08-26T16:29:20","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=329146"},"modified":"2024-08-27T00:29:22","modified_gmt":"2024-08-26T16:29:22","slug":"trade-the-news-court-clears-mers-1000-mw-power-supply-auctions","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-court-clears-mers-1000-mw-power-supply-auctions\/","title":{"rendered":"Trade the News: Court clears MER’s 1000-MW power supply auctions"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>Manila Electric Co. – Meralco<\/td><\/tr>
Stock Code<\/strong><\/td>MER<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Hold<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 351.25<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

Manila Electric Co. (MER) is forging ahead with its quest for cost-effective power supply following the lifting of a block on its 1,000-megawatt (MW) bidding process.<\/p>\n\n\n\n

The Taguig Regional Trial Court junked the petition for injunction against Meralco\u2019s competitive selection process (CSP) for 600-MW baseload and 400-MW mid-merit supply contracts.<\/p>\n\n\n\n

\u201cThe court finds merit in the urgent motion to dismiss the complaint for injunction of plaintiffs. Relative thereto, the temporary restraining order the court issued on (Aug. 2) is hereby rendered without force and effect,\u201d the order dated Aug. 17 stated.<\/p>\n\n\n\n

This stemmed from the petition filed by Prime Energy Resources Development, UC38 LLC, Prime Oil and Gas Inc. and PNOC Exploration Corp. that stalled the conduct of the CSPs.<\/p>\n\n\n\n

Meralco said that the latest order would enable the firm to continue efforts to \u201csecure our power supply requirements in the least cost manner, consistent with our mandate.\u201d<\/p>\n\n\n\n

\u201cWe will now resume the bidding procedures for both the 600-MW and 400-MW CSPs, for which new bid bulletins will be issued, particularly with respect to the timelines,\u201d it said.<\/p>\n\n\n\n

The procurement of a new power supply is deemed essential to meet Meralco\u2019s power requirements starting next year amid growing energy demand within its franchise coverage, which includes Metro Manila and nearby provinces.<\/p>\n\n\n\n

With the roadblock now cleared, Meralco has revised the bidding timeline for the CSPs.<\/p>\n\n\n\n

For the 600-MW auction, the bid submission deadline and the opening of pre-qualification documents have been moved to Aug. 27 from the original schedule of Aug. 2.<\/p>\n\n\n\n

The winning bidders will be notified on the same day or the next, depending on the duration of the pre-qualification evaluation.<\/p>\n\n\n\n

In a pre-bid conference last month, Meralco named the eight interested bidders for the CSP, which covers a 15-year power supply agreement (PSA) that is targeted to start on Aug. 26, 2025.<\/p>\n\n\n\n

The interested parties include Aboitiz-led GNPower Dinginin Ltd. Co. and Therma Luzon Inc.; San Miguel\u2019s Mariveles Power Generation Corp. and Masinloc Power Co. Ltd.; Lopez-led First Gas Power Corp. and First NatGas Power Corp.; Quezon Power (Philippines) Ltd. Co.; and the Consunji Group\u2019s Southwest Luzon Power Generation Corp.<\/p>\n\n\n\n

(News Source: Philippine Star<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-329146","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329146","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=329146"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329146\/revisions"}],"predecessor-version":[{"id":329148,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329146\/revisions\/329148"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=329146"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=329146"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=329146"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}