Corporate News

By Claire-Ann M. C. Feliciano, Senior Reporter

EDC unit lone bidder for Leyte power contract

Posted on September 03, 2015

THE AUCTION for the remaining contracted capacity of the Unified Leyte Geothermal Power Plant (ULGPP) failed after only one company participated in the process.

Lourdes S. Alzona, president of the Power Sector Assets and Liabilities Management Corp. (PSALM), said “only one bidder submitted” an offer for the independent power producer administrator contract for ULGPP’s bulk energy.

She identified the company as Unified Leyte Geothermal Energy, Inc. (ULGEI) -- a subsidiary of Lopez-owned Energy Development Corp. (EDC).

Ernesto B. Pantangco, EDC executive vice-president, confirmed the failed bidding.

“Only ULGEI submitted a bid. We manifested our willingness to negotiate. PSALM board will decide,” Mr. Pantangco said in a separate text message.

The other companies that did not push through with the bidding are SPC Power Corp.; Aboitiz-led Therma Central Visayas, Inc.; Phinma Group’s Trans-Asia Oil and Energy Development Corp.