The competitive selection process (CSP) bid invite states that an annual ancillary service (AS) cost recovery cap, with a floor value of P0.28 per kilowatt hour, will be considered in computing the levelized cost of electricity (LCOE). The bidders' proposed price and LCOE are subject to a pre-determined reserve price, which will only be revealed by the committee to qualified bidders during the opening of bids. Valles also said Meralco will be conducting more CSPs for the procurement of 170MW power supply requirements to address future Malampaya gas curtailment and secure adequate supply up to the elections in May 2022. "We are planning to procure emergency supply of 170MW. We will conduct CSPs accordingly," he said. The 170MW of additional capacity forms part of the 260MW Interim Power Supply Agreement with Masinloc Power Planters Co. Ltd. that Meralco wanted to exempt from CSP. The Department of Energy, however, did not grant Meralco's request.