By Danessa Rivera (The
Philippine Star) | Updated May 16, 2017 - 12:00am
MANILA, Philippines - Lopez-led
First Gen Corp. is eyeing to market 200 megawatts (MW) of clean energy from its
414-MW San Gabriel power plant in Batangas to utilities and industrial
customers under the retail competition and open access (RCOA) regime.
First Gen is working on closing
contracts with utilities and industrial users this year to give the company
predictability in terms of revenues, company president and COO Francis Giles
Puno said.
“That’s what we’re trying to
achieve, predictability,” he said. “The impact is minimal compared to what we
think as merchant. But what it will do is the predictability so that in the
first quarter numbers, we won’t have that seasonality of our financials, so
that the revenue stream will be predictable,” he said.
Currently, San Gabriel is merchant
plant, which is selling output to the Wholesale Electricity Spot Market (WESM),
the country’s electricity spot market. A merchant plant means it has no power
supply contracts with distribution utilities.
San Gabriel will not only offer
competitive prices to retail electricity customers but also clean energy, First
Gen chairman and CEO Federico Lopez said.
The company will retail clean energy
capacity through wholly-owned subsidiary First Gen Energy Solutions Inc.
(FGES).
Last year, it has signed up nine
customers: RFM Corp., Central Luzon State University, Specialty Pulp
Manufacturing Inc., Hoc Po Feeds Corp., Green Era Bio-Tech Corp., Analog
Devises, Unilever Philippines Inc., De La Salle University Dasmarinas, and De
La Salle Health Sciences Institute.
No comments:
Post a Comment