by Myrna Velasco – August 7, 2016
from Manila Bulletin
Three Filipino companies have secured their respective licenses from the Energy Regulatory Commission (ERC) as retail electricity suppliers (RES) in the competitive regime of the restructured power sector.
The newly registered RES are Manta Energy, Inc., Millennium Power RES, Inc. and FDC Retail Electricity Sales Corporation (FDC RES Corp.) of the Filinvest Group.
According to the ERC, the RES license approvals “were issued in view of their capability to sustain their respective retail supply businesses, and their compliance with the technical, financial and administrative requirements to obtain the subject license.”
Manta Energy had been formerly IN2Power, Inc, a wholly-owned subsidiary of Emerging Power, Inc. of the Zamora group that is now pursuing organic growth of its renewable energy investments.
The parent firm of FDC RES Corporation, for its part, is now at commissioning phases of its greenfield coal-fired generating facilities in Mindanao; and also counts the 40-megawatt strip of Leyte geothermal capacity as part of its portfolio.
FDC Utilities, Inc. is the developer of the 405MW coal-fired power plant in Misamis Oriental – comprising of three units at 135MW capacity each; and it is also an independent power producer administrator of the privatized supply contract of the Leyte plant.
Millennium RES is the retail supplier vehicle of Millennium Energy that owns and operates the Limay thermal and Navotas gas turbine plants.
ERC Chairman Jose Vicente B. Salazar said the regulatory body “will constantly monitor the adherence of Manta, FDC RES Corp. and Millennium RES to the terms and conditions attached to the RES license.”
He explained that such is intended “to ensure their adherence to best business practices in retailing electricity services.”
The ERC deemed that the three new RES licensees could “enhance the power of choice of contestable customers through the establishment of websites in order to provide updated information on average electricity prices and value-added services to ensure that contestable customers make informed choices.”