Manila Times.net
BY EUAN PAULO C. AÑONUEVO REPORTER
THE Energy Regulatory Commission (ERC) has given the Ayala group a license to participate in the retail electricity market.
In a decision, the ERC said it awarded a retail electricity supplier (RES) license to the Philippine Integrated Energy Solution Inc. (PIESI), allowing the company to sell, broker, market or aggregate electricity to end-users.
“The ERC welcomes PIESI as the Philippines’ 12th RES. More players in the electric power industry would lead to a healthy business competition in the open access and retail competition environment,” Zenaida Cruz-Ducut, ERC chairman, said.
Ayala Land Inc. (ALI), through unit Ayala Property Management Corp., owns PIESI.
The company was organized to function mainly as a retail electricity supply unit. It aims to supply eligible commercial and industrial end-users within the Ayala group under the open access and retail competition regime.
The ERC, upon assessment of submitted documents, said that PIESI met the requirements to operate in the electric supply business and comply with its rules and regulations.
PIESI plans to supply the energy requirements of contestable customers whose requirements run to an initial 50 megawatts.
‘This market share will increase as PIESI acquires additional customers to serve and enter into new contracts with generators,” the ERC said.
PIESI will source its power from privatized plants of state-owned National Power Corp., independent power producer administrators, new generation companies, and the Wholesale Electricity Spot Market (WESM).
WESM is a venue where power plants trade their excess output.
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