Ray Espinosa, president and chief executive officer of the Manila Electric Co., speaks during a briefing on the power giant's full-2019 financial results at its headquarters in Pasig City on Feb. 24, 2020. (Photo by Joan Arellano)
THE Manila Electric Co. (Meralco) is close to finalizing its terms of reference (TOR) for the competitive bidding covering 1,200 megawatts (MW) of new supply, which could be published in about two months.