(The Philippine Star) | Updated October 17, 2016 - 12:00am
MANILA, Philippines
- Corenergy Inc., a subsidiary of Cebu-based Vivant Energy Corp.,
targets to sell 100 megawatts (MW) a year after it clinched a license to sell
electricity to end users under the retail competition and open access (RCOA)
scheme.
The Energy Regulatory
Commission (ERC) said it awarded a retail electricity supplier (RES) license
to Corenergy as it complied with the technical, financial, and
administrative requisites proving the firm’s capability to operate and sustain
the retail supply business.
Its primary purpose is
to buy, source and obtain electricity from generating companies or from the
wholesale electricity spot market (WESM) to sell, broker, market or aggregate
electricity to the end users in the contestable market.
“We
welcome Corenergy Inc. to the retail supply business. Its presence
will provide consumers with more choices of electricity
suppliers,” ERC chairman and CEO Jose Vicente Salazar said.
Corenergy plans to
sell an initial capacity of 100 MW in the first year, which would account for
2.35 percent market share of the total contestable customer demand.
It aims to supply the
power requirements of qualified industrial, manufacturing, and commercial
customers located in Luzon and Visayas, and eventually in Mindanao
once RCOA is declared there.
The company will
procure power supply from a diverse mix of generation technology taking into
account the dependability, costs implications, and location of these generation
capacities.
No comments:
Post a Comment