GNPower: First Retail Electricity Supplier's License Grantee
GNPower Ltd. Co.’s President Daniel Chalmers receives Retail Electricity
Supplier’s License from ERC Chairman Rodolfo B. Albano, Jr.
On-lookers (left to right) are Ms. Marives D. Santos, Chief of the Contestable
Market Division, ERC Commissioner Maria Teresa Ramirez -
Castañeda, GNPower’s SVP and COO Anthony Becker, ERC Commissioner
Alejandro Z. Barin, GNPower’s Gen. Counsel Lourdy Torres and
ERC Director Deborah Anastacia Layugan of the Market Operations Service.
The Energy Regulatory Commission (ERC) approved on 12 July 2006 GNPower Ltd. Co.’s application for a Retail Electricity Supplier’s License. GNPower is the first electricity supplier to comply with the ERC’s directive to secure a Supplier’s License prior to marketing electricity.
“The awarding ceremony marks the dawn of the ultimate goal of the EPIRA, that is competition at the retail level,” ERC Chairman Rodolfo B. Albano, Jr. said. The ceremony was held on 19 July 2006 at the ERC Office in Ortigas Center, Pasig City. Following the ERC’s issuance of a Supplier’s License to GNPower, the latter can now legally engage in marketing activities for its retail electricity supply business and secure supply contracts with prospective end-users. The Supplier’s License was approved subject to GNPower’s continuing compliance with the Guidelines for the Issuance of Licenses to Retail Electricity Suppliers (RES), as amended, and promulgated by the ERC on 1 February 2006 and the Terms and Conditions attached to the said license.
The Electric Power Industry Reform Act (EPIRA), particularly Section 29 thereof, mandates the ERC to issue licenses to electricity suppliers that will operate in the contestable market, which comprises end-users who will soon have a choice of an electricity supplier.
GNPower is a limited partnership registered with the Philippine Securities and Exchange Commission on 1 October 1997. The partnership was formed by Power Partners Ltd. Co. and PMR Holding Corp. as general and limited partners, respectively. It has a 600MW clean-coal fired power plant currently being developed near the town of Mariveles, Bataan. The construction of said power plant is expected to commence in mid-2007 with planned commercial operation by the third quarter of 2010.
“This
is another milestone in the emerging restructured electric power industry. Rest
assured that the ERC will always adhere to its mandate and encourage the full
participation of the stakeholders in the industry towards achieving the goals
envisioned in the EPIRA,” Chairman Albano concluded.
July 21, 2006