EDC submits lowest bid for power deal

LOPEZ-LED energy Development Corp. (EDC) has submitted the lowest bid for the contract to supply power to More electric and Power Corp. (MORE Power).

“This is a result of the Competitive Selection Process conducted by MORE Power wherein First Gen-edc submitted the lowest bid among the three participating generators,” according to a statement from edc’s parent firm, First Gen Corp. (First Gen), released on Wednesday.

Effective July 25, EDC will supply MORE Power 20-megawatts (MW) of mid-merit supply. The parties signed the 5-year power supply deal last June 28.

MORE Power’s move to get power from EDC is a part of the distribution utility’s customer welfare-driven initiatives that aim to provide stability and reliability in terms of supply and fixed power rates to its power consumers.

“Green power is not only reliable but also affordable. MORE Power gives priority to affordability of electricity, then having renewable energy in our portfolio. We are confident that this partnership with First Gen and EDC will give us both our priorities that will benefit our consumers in the long term. especially now that global fuel prices are, and will continue to be volatile, having renewable energy in our portfolio will save our consumers from high electricity costs,” said MORE Power President Roel Castro during the ceremonial contract signing.

EDC will source power from its Unified Leyte geothermal power plant, one of the company’s largest geothermal facilities. Geothermal energy is considered the “Holy Grail of renewable energy (Re) technologies” because— unlike other Re sources—it can provide uninterrupted, year-round baseload power, rain or shine. Thus, EDC refers to it as Geo 24/7.