AES Philippines is ERC's 9th wholesale aggregator
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AES
is 9th Wholesale Agregator. Photo shows (L-R) Comms. Alejandro Z. Barin,
Maria Teresa A.R. Castañeda, ERC Chairman Rodolfo B. Albano, Jr.,
AES Director Jasper Lisandro Camacho, AES Manager for Power Origination
Chrysogonus Herrera, ERC Comms. Jose C. Reyes and Rauf A. Tan. |
The Energy Regulatory Commission (ERC) licensed AES Philippines, Inc. (AES) as its 9th wholesale aggregator on 05 March 2008. “The increasing number of players in electricity industry is another welcome development for it (the industry) to become more competitive,” ERC Chairman Rodolfo B. Albano, Jr. said.
The eight (8) others are: (1) Trans-Asia Oil and Energy Devt. Corp.; (2) First Cabanatuan Ventures Corp. (FCVC); (3) Aboitiz Energy Solutions, Inc. (AESI); (4) First Gen Energy Solutions, Inc.; (5) Angeles Power, Inc. (API); (6) iN2Power, Inc.; (7) GN Power Ltd. Co.; and (8) TeaM (Philippines) Energy Corporation.
A wholesale aggregator is a person or entity duly authorized by the ERC to sell electricity to a distribution utility (DU) or a consortium/group of DUs.
AES is a private corporation registered with the Securities Exchange Commission (SEC) on 19 December 2007. It is primarily engaged in providing energy-related products and services. AES is owned by AES Corporation, a US-based company operating as power generator and power distributor in 28 countries.
“The ERC is glad to note the growing interest of investors in the Philippine electricity business. It is hoped that the growth of the industry will inspire the players to be competitive and move the electricity consumers towards a brighter future,” Chairman Albano concluded.
March 6, 2008