THE retail electricity market is set to gain an additional 20 megawatts (MW) of power supply after FDC Misamis Power Corp. signed a two-year power supply agreement with Corenergy, expanding electricity options for contestable commercial and industrial customers nationwide.
Under the agreement, FDC Misamis will supply 20 MW of baseload power to Corenergy, the retail electricity arm of Vivant Energy, to strengthen the latter’s portfolio under the retail competition and open access program.
In a statement, the additional capacity is expected to help Corenergy meet growing demand from qualified businesses that are allowed to choose their electricity supplier.
“This partnership with Corenergy allows us to extend the dependable power supply of FDC Misamis to more commercial and industrial customers through the retail electricity market,” FDC Misamis president and chief executive officer Juan Eugenio Roxas said.
He said the agreement reflects both companies’ commitment to delivering reliable power that supports business activity and economic growth.
Corenergy head of Commercial Operations and Strategy Michael Lasam said the agreement expands the company’s ability to serve customers beyond Metro Manila while strengthening the resilience of its supply portfolio.
“Our customers are growing, and so is our responsibility to power that growth,” Lasam said, adding that the deal gives the company greater flexibility to serve businesses as more consumers gain the option to select their electricity provider.
FDC Misamis owns and operates Filinvest Group’s 405-MW baseload coal-fired power plant in Villanueva, Misamis Oriental. The facility has been supplying power to the Mindanao grid since it began commercial operations in 2016. / KOC