UPDATE 1-Philippines fails to attract coal tenders

(Adds more details, background)

MANILA Feb 1 (Reuters) - The Philippines's largest power producer, state-run National Power Corp. (Napocor), has failed for a second time to secure a fresh coal supply for three power plants due to high prices, the state-run group said on Friday.

Napocor re-issued tenders for 33 lots of 65,000 coal cargoes for the Sual, Pagbilao and Masinloc plants after a tender last year also failed but only had successful bids for three, Victor Garcia, a senior Napocor official told Reuters.

Bids for another three lots are still under discussion.

Garcia said the bidding for the 27 lots failed because no bidders showed up.

"A supplier wrote us a letter of regret saying the price was low," he said.

Garcia said the approved budget for the contracts was based on a reference price of $115-$136 per tonne, on a cost-and-freight basis.

The budget for the tenders was set five days before the auction, but a jump in coal prices mainly due to tight supplies in Asia made the price set by government look cheap, Garcia said.

Garcia said the bids and awards committee will meet to discuss whether to enter into negotiations with suppliers or re-issue the tender for the 27 lots.

For this year, Napocor needs 3.47 million tonnes of coal to keep its Pagbilao, Sual and Naga Cebu plants running. It is left with three coal-run plants after it sold its Masinloc and Calaca plants to private investors last year.

But Napocor was importing coal for Masinloc in case the transfer of ownership to a Singapore unit of U.S. Aes Transpower Pte Ltd (AES.N), expected in the first quarter of this year, is delayed.

Napocor sources most of its coal from China, Indonesia and Australia. (Reporting by Karen Lema; Editing by Carmel Crimmins)