ERC awards RES licenses to 3 power firms

by Lenie LecturaAugust 5, 2016

from Business Mirror

THE Energy Regulatory Commission (ERC) has awarded retail-electricity supplier (RES) licenses to three power firms.

The licenses were awarded to Manta Energy Inc. (Manta), FDC Retail Electricity Sales Corp. (FDC RES), and Millennium Power RES Inc. (Millennium RES).

The ERC’s 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.

“The ERC will constantly monitor the adherence of Manta, FDC RES Corp. and Millennium RES to the terms and conditions attached to the RES License, and to ensure their adherence to best business practices in retailing electricity services,” ERC Chairman and CEO Jose Vicente B. Salazar said on Friday.

Manta is a wholly owned subsidiary of Emerging Power Inc., the owner of the wind-solar power plant in Subic Bay, Freeport Zone, Zambales.

FDC RES Corp., a wholly owned subsidiary of FDC Utilities Inc., is the holding company for all the utility projects of the Filinvest Group.

Millennium RES is a wholly owned subsidiary of Millennium Energy Inc., the owner and operator of the 85-megawatt Millennium gas turbine-power plant located in Navotas City.

The ERC said Manta, FDC RES Corp. and Millennium RES enhance the power of choice of contestable customers through the establishment of web sites in order to provide updated information on average electricity prices and value-added services to ensure that contestable customers make informed choices.