Written by Madelaine B. Miraflor Published on 12 November 2012
Trans-Asia Oil and Energy Development Corp., a power distributing firm, is looking to “prospect clients” for the anticipated open-access system in the power supply industry, which will give the consumers the liberty to choose their own power supplier.
Francisco Virray, president and chief executive officer of Trans-Asia, told reporters that they are preparing for the open access regime that may take the place of the old system by next year or so.
“We’re approaching the prospective contestable market, we’ve already talked with them and made offers,” he said.
Virray added that they’ve seen a lot of prospective clients and that they are going to allocate megawatts under the new system using their own plants.
“Our capacity will serve 560 megawatts of peak demand,” he said.
Under the open access system, major power users, for instance corporations, will have the freedom to choose their own electricity suppliers. This is different from the current system where institutions have to source their power needs from suppliers in their area.
This system will improve competition in the energy sector, which may also benefit consumers sooner or later because in due course, the open access scheme will be extended up to the retail level or households.
In late October, the Energy Regulatory Commission and the Department of Energy said in a statement that the open access scheme should have be operational by December 26, 2012.
However, ERC Executive Director Francis Saturnino Juan clarified that the proponents may need at least another year for the transition and adjusting period.
He said in earlier reports that the transition period would start on December 26, 2012 and end on June 26 next year, when commercial arrangements would have been finalized between retail electricity suppliers (RES) and qualified customers.
Meanwhile, Trans-Asia reported a nine-month revenue of P1.16 billion and net income of P347.8 million, an increase of 39 percent and 47 percent, respectively, over the same period last year.
According to the company, the significant improvement registered by Trans-Asia was a result of increased energy sales, from 284 gigawatts in the first nine months of 2011 to 383 Gwh over the same period in 2012. source
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