iN2Power is RP's 6th Wholesale Aggregator

 

ERC Chairman Rodolfo B. Albano, Jr. awards the Certificate of Registration to iN2Power President and CEO Mr. Joel A. Banares together with (left to right) ERC Commissioners Alejandro Z. Barin and Maria Teresa R. Castañeda, Dr. Fernando Y. Roxas, iN2Power’s Chief Marketing Officer, and Mr. Michael Pelayo, also from iN2Power.

 

The Energy Regulatory Commission (ERC) granted a Certificate of Registration (COR) to iN2Power, Inc. (iN2Power) to become the sixth (6th) wholesale aggregator (WA) in the Philippine electric power industry.

“This is a welcome development for it proves that the electricity industry in the Philippines is surely evolving to a competitive regime,” ERC Chairman and CEO Rodolfo B. Albano, Jr. said. “This also shows the high level of confidence that investors have in the Philippines which is vital in the transformation of the electricity industry,” Chairman Albano added.

iN2Power is a private corporation incorporated on 21 May 2007 with the primary function to engage in the power business, including but not limited to power
generation, power trading and power supply to retail customers and end-users as well as to distribution utilities and customers directly connected to the voltage transmission network. It also bids for or acquire power generation and other power related assets, facilities, concessions and contracts and enters into transactions or agreements relating to power by itself or through joint ventures or partnerships, directly or through its subsidiaries or affiliates.

iN2Power is taking a position in the supply sector both as a wholesale aggregator and as a Retail Electricity Supplier (RES) and intends to serve electric cooperatives, private utilities, local government-run utilities and large-load end-users in geographical areas that it could possibly cover all over the country.

July 11, 2007