Ten companies vie for spots in Philippines' inaugural mid-merit gas auction
Ten firms, including those backed by major power groups, have signaled interest in the Philippines' first mid-merit natural gas bidding round.
The Philippine DOE announced the pre-qualification of ten firms for its first mid-merit natural-gas auction covering 3,800 MW of capacity. Prime Infra, which secured a 60 percent interest in First Gen’s gas portfolio through a P50-billion transaction, will compete with LNGPH - represented by Excellent Energy Resources - which offers gas-fired capacity from its Batangas and Iloilo plants and a proposed Visayas facility.
Additional bidders such as Panasia Energy, Therma Cebu Gas-To-Power, Cordova Power Generation, Quezon Power and Vires Energy have also entered the process. The auction will allocate 2,900 MW for Luzon with delivery expected from 2026 to 2031, and 940 MW for the Visayas region between 2028 and 2031. Energy Secretary Sharon Garin highlighted the role of mid-merit gas in supporting a diversified generation mix, while LNGPH CEO Yari Miralao noted potential new gas plants in the Visayas over the next six years.
Why it matters
The auction will shape the Philippines' power mix and grid reliability by adding significant natural-gas capacity.
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