Vivant Energy’s retail electricity supplier COREnergy has signed a two-year power supply agreement with Filinvest Group’s FDC Misamis Power Corp. for 20 megawatts (MW) of electricity, strengthening its supply portfolio as competition in the Philippine retail electricity market continues to expand.
Under the agreement, FDC Misamis will supply 20 MW of contracted capacity to COREnergy, enabling the Cebu-based retail electricity supplier to meet the growing energy requirements of contestable commercial and industrial customers nationwide under the Retail Competition and Open Access (RCOA) program.
The partnership comes as more businesses shift to the retail electricity market, where qualified consumers can choose their electricity supplier instead of relying solely on their local distribution utility.
“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,” Juan Eugenio Roxas, president and chief executive officer of FDC Misamis, said.
“The agreement reflects our shared commitment to forging strong industry partnerships and delivering reliable energy that supports business activity and economic growth,” he added.
Michael Lasam, head of commercial operations and strategy at COREnergy, said the agreement adds “meaningful capacity” to the company’s supply portfolio, allowing it to serve more businesses beyond Metro Manila with a stronger and more resilient electricity supply.
“Our customers are growing, and so is our responsibility to power that growth,” Lasam said. “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.”
The companies said the agreement highlights the growing role of partnerships between power generation companies and retail electricity suppliers in expanding customer choice while ensuring a dependable electricity supply.
FDC Misamis owns and operates Filinvest’s flagship 405-MW baseload power plant in Villanueva, Misamis Oriental. The facility has been contributing to the stability of the Mindanao grid since commencing commercial operations in 2016 and supplies electricity to distribution utilities and industrial customers across the Philippines.
The latest agreement adds to a series of supply arrangements in the country’s liberalized electricity market as retail electricity suppliers seek additional generation capacity to serve an expanding base of contestable customers amid growing power demand.
