MANILA, Philippines - The Energy Regulatory Commission (ERC) has renewed the registration of a foreign energy firm to operate as retail electricity supplier (RES).
In a statement, ERC said “GNPower had the capability to continue to operate a retail electricity supply business having complied with the technical and financial requirements for the renewal of a RES license.”
“The renewal of GNPower’s RES license allows it to sell, broker, market, and aggregate electricity to customers with monthly average peak demand of at least one megawatt (MW) upon declaration of open access and retail competition (OARC),” said ERC chairperson Zenaida Cruz-Ducut.
GNPower was originally issued an RES license in July 2006 that was renewed in June 2009.
“This renewal makes the RES license valid until 2017,” ERC said.
RES can tailor their supply packages to provide customers with the best value based on their power consumption profile and other preferences.
As envisioned in the Electric Power Industry Reform Act of 2001, OARC will introduce competition in the retail supply segment of the electric power industry.
Under the OARC, customers can freely choose their electricity service provider. This means that electricity end-users with an average monthly peak demand of one MW can choose from whom to procure their electricity service.
The coverage of contestable customers shall be expanded after two years to customers with a 750-kilowatt individual or aggregated demand.
“The OARC is designed to create healthy competition among electric power providers leading to the best kind of customer service possible,” Cruz-Ducut said.
GNPower, which is registered with the Securities and Exchange Commission, has the capacity to engage in, develop, acquire and operate power generation facilities.
GNPower is a joint venture between Nauru-based Power Partners Ltd. Co. and local firm PMR Holdings.
Its affiliates include Power Partners Ltd. Co., GNPower Holdings Philippines and GNPower Mariveles Coal Plant Co., which is also a licensed RES.
Early this month, GNPower Mariveles informed President Aquino of their intention to expand their operations in the Philippines with an investment of close to $1 billion. The company committed to build two 300-MW coal plants in Mariveles, Bataan. source
In a statement, ERC said “GNPower had the capability to continue to operate a retail electricity supply business having complied with the technical and financial requirements for the renewal of a RES license.”
“The renewal of GNPower’s RES license allows it to sell, broker, market, and aggregate electricity to customers with monthly average peak demand of at least one megawatt (MW) upon declaration of open access and retail competition (OARC),” said ERC chairperson Zenaida Cruz-Ducut.
GNPower was originally issued an RES license in July 2006 that was renewed in June 2009.
“This renewal makes the RES license valid until 2017,” ERC said.
RES can tailor their supply packages to provide customers with the best value based on their power consumption profile and other preferences.
As envisioned in the Electric Power Industry Reform Act of 2001, OARC will introduce competition in the retail supply segment of the electric power industry.
Under the OARC, customers can freely choose their electricity service provider. This means that electricity end-users with an average monthly peak demand of one MW can choose from whom to procure their electricity service.
The coverage of contestable customers shall be expanded after two years to customers with a 750-kilowatt individual or aggregated demand.
“The OARC is designed to create healthy competition among electric power providers leading to the best kind of customer service possible,” Cruz-Ducut said.
GNPower, which is registered with the Securities and Exchange Commission, has the capacity to engage in, develop, acquire and operate power generation facilities.
GNPower is a joint venture between Nauru-based Power Partners Ltd. Co. and local firm PMR Holdings.
Its affiliates include Power Partners Ltd. Co., GNPower Holdings Philippines and GNPower Mariveles Coal Plant Co., which is also a licensed RES.
Early this month, GNPower Mariveles informed President Aquino of their intention to expand their operations in the Philippines with an investment of close to $1 billion. The company committed to build two 300-MW coal plants in Mariveles, Bataan. source
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