ERC grants license to 5th Wholesale Aggregator

The Energy Regulatory Commission (ERC) issued a Certificate of Registration (COR) to Angeles Power, Inc. (API) as a wholesale aggregator (WA). API is the fifth WA licensee in the Philippines to join Trans Asia Oil and Energy Development Corp. (TA Oil), First Cabanatuan Ventures Corp. (FCVC), Aboitiz Energy Solutions Inc. (AESI), and First Gen Energy Solutions Inc. (First Gen).

“This is another indication that the electricity industry is indeed moving towards the competitive regime as envisioned in the Electric Power Industry Reform Act (EPIRA),” ERC Chairman and CEO Rodolfo B. Albano, Jr. said. “The ERC is committed to having customer choice, electricity market development, and healthy competition in a restructured electricity industry,” Chairman Albano added.

Wholesale Aggregators are persons or entities who are engaged in the consolidation of electric power demand of Distribution Utilities (DUs) for the purpose of purchasing and reselling electricity on a group basis. Section 30, 5th paragraph of the EPIRA provides that the ERC may authorize other similar entities to become eligible as members, either directly or indirectly, of the wholesale electricity spot market (WESM).

API, a private corporation existing since February 1993, is primarily engaged in the business of designing, constructing, erecting, assemblying, commissioning, and operating power generating plants and related facilities for the generation and supply of electric power that utilizes any fuel or energy source. API also intends to provide ancillary services and to supply services such as billing, collection, customer service, energy trading and electricity sales for the contestable market and other customers who are not end-users.

The COR issued by the ERC to API is subject to its continuing compliance with the Wholesale Electricity Spot Market (WESM) Rules and the Philippine Grid and Distribution Code (PGDC), the approved Terms and Conditions, and other applicable Rules.

June 21, 2007