Meralco First Vice President Jose Ronald Valles told reporters on Tuesday that negotiations with San Roque Hydropower Corp., the lone bidder for the supply deal, had been called off.
"With respect to the reported 260-megawatt peaking that we are supposed to execute based on the approved power supply procurement plan, on March 8, 2024, our Bids and Awards Committee officially declared a failure of bidding for the second round of the competitive selection process (CSP) and commenced direct negotiation with the single offer or with power supplier, the San Roque Hydropower Corp.," Valles noted.
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