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Kingstone Energy who? DOE warned vs little known firms eyeing 1800 MW power deal

A think tank has urged the Department of Energy (DOE) to look into the credentials of parties joining the competitive selection process (CSP) after a little known company submitted a bid for 1,800-megawatt supply contract.

Infrawatch chief Terry Ridon flagged Kingstone Energy’s participation in the CSP, saying DOE should ensure bidders have a proven track record and pose no national security risks.

“A proven track record in the local power sector should be indispensable in CSP bidding, as its boosts the integrity of the entire bidding process, and raises consumer confidence on the viability of future power supply,” he said.

“Unless Kingstone can show that its proposal is not within the purview of government’s coal-fired power plant moratorium, it had no business participating in the Meralco CSP,” Ridon added.

The winning bidder will supply one-fifth of Luzon’s peak power demand, so DOE needs to exert due diligence in ensuring the transparency of the bidding process.

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