Filinvest's FDC Misamis Power to Supply 20MW to COREnergy for Contestable Users

FDC Misamis Power Corp., a member of the Filinvest Group, on Friday announced it has signed a power supply agreement with Vivant Energy’s retail electricity arm COREnergy to support the latter’s supply requirements for its contestable customers. The Department of Energy’s (DOE) Retail Competition and Open Access (RCOA) policy allows power suppliers to directly transact with any customer designated by the Energy Regulatory Commission (ERC) as part of the “contestable market.” A contestable customer may be a corporation, business establishment, or household with an average consumption of 500 kilowatt-hours in the last 12 months. In a news release, FDC Misamis Power said that under its PSA, it will provide COREnergy with a contracted capacity of 20 megawatts (MW) for a period of two years. “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,” said Juan Eugenio Roxas, president and CEO of FDC Misamis. “The agreement reflects our shared commitment to forging strong industry partnerships and delivering reliable energy that supports business activity and economic growth,” said Roxas. As a licensed Retail Electricity Supplier, COREnergy serves qualified contestable customers under the RCOA program. "Our customers are growing, and so is our responsibility to power that growth," said Michael Lasam, head of Commercial Operations and Strategy at COREnergy. "This partnership with FDC Misamis adds meaningful capacity to our portfolio, giving us the flexibility to serve businesses beyond Metro Manila, with a stronger and more resilient supply portfolio. It's a step forward in delivering the Power of Choice—as more businesses, and soon more Filipinos, gain the freedom to choose their power supplier,” said Lasam. FDC Misamis owns and operates Filinvest’s flagship baseload power generation facility in Villanueva, Misamis Oriental. The facility has a total capacity of 405 megawatts and has significantly contributed to the stability of the Mindanao grid since its commercial operations in 2016.—LDF, GMA News