Energy Development Corp : UL IPPA Bidding – Bulk Energy (4-traders - press release)
Unified Leyte Geothermal Energy Inc. (ULGEI), a wholly owned subsidiary of the Energy Development Corporation (EDC), was declared as one of the seven Highest Ranking Bidders for the maximum allowable 40 MW per bidder in the Selection and Appointment of the Independent Power Producer Administrators (IPPA) for the Strips of Energy of the Unified Leyte Geothermal Power Plants (ULGPPs), as conducted by the Power Sector Assets and Liabilities Management Corporation (PSALM) on November 7, 2013.
On November 8, the following day, ULGEI was also declared as the Highest Ranking Bidder to administer the Bulk Energy of the ULGPPs, which is the capacity in excess of the 240 MW allotted for the Strips of Energy. Among the bids received, it was inly ULGEI 's that hurdled the floor established by PSALM.
The PSALM Privatization, Bids and Award Committee will now proceed with the post qualification process that may serve as basis to declare such Highest Ranking Bidders as Winning Bidders and award to them the Bulk and Strips of Energy subject of their respective bids. Once declared as the Winning Bidder for the Bulk Energy, ULGEI will assume the responsibility for trading/marketing the entire Unified Leyte capacity upon the expiration of outstanding transition supply contracts.