SNAP obtains retail electricity supplier license
The Energy Regulatory Commission has granted the SN Aboitiz Power Group (SNAP) a retail electricity supplier (RES) license, which will allow the company to sell power under the open access regime.
“SN Aboitiz Power, through SNAP-RES, is proud to support the growing electric power industry in the Philippines by offering reliable and affordable electricity to consumers and end-users,” said Emmanuel V. Rubio, president and chief executive officer of the SNAP Group.
SNAP intends to offer to the so-called contestable customers—or those eligible to choose their own suppliers—electricity from the 360-megawatt Magat hydropower plant, in Ramon, Isabela and Alfonso Lista, Ifugao; the 105-MW Ambuklao facility in Bokod, Benguet; and the 100-MW Binga power plant in Tinongdan, also in Benguet.
The ERC has already issued and renewed a number of RES licenses over the past years to power generation companies wanting to participate in the open access and retail competition regime, which will begin on December 26.
ERC Chairperson Zenaida G. Cruz-Ducut had said the commission wanted to have as many eligible RES license holders as possible, since having more players in the electric power industry may likely lead to a healthy business competition in the open access and retail competition environment.
Companies that already have a RES license include Ayala-led Philippine Integrated Energy Solution Inc. (PIESI), which plans to serve eligible commercial and industrial end-users within the Ayala Corp. group.
The others are Trans-Asia Oil and Energy Development Corp.; the Aboitiz-led AdventEnergy Inc. and AboitizEnergy Solutions Inc. (AESI); GN Power Ltd. Co.; GNPower Mariveles Coal Plant Ltd. Co.; First Gen Energy Solutions Inc.; Cabanatuan Electric Corp.; Masinloc Power Partners Co. Ltd.; Premier Energy Resources Corp.; and TeaM Philippines Energy.
