The Global Business Power Corp. (GBCP) has inked with two customers under the retail electricity business amid the country’s electricity market shift to the retail competition and open access (RCOA) scheme.
Global Energy Supply Corp. (GESC), GBPC’s retail energy arm, has signed a power supply agreement with Federal Land Inc. (FLI) and Cathay International Resources Corp. (CIRC).
“Our partnership with Federal Land and Cathay International demonstrates not only our shared commitment towards service excellence and customer satisfaction but also our strengthened trust and confidence through the years,” GBPC president Rolando Bacani said.
Under the deal, GESC is set to supply the electric power requirements of FLI’s Tower International in Makati City and Marco Polo Cebu.
FLI president and CIRC vice chairman Pascual M. Garcia III said that the agreement gives them a tailor – fit solution at very competitive costs.
“We would like to see possible arrangements such as this, since we already have a working model,” he said.
RCOA is a provision under the Electricity Power Industry Reform Act (EPIRA) that gives way to the contestable customers – or those whose peak demand fall within a set contestability – the freedom to choose their power supplier.
The mandatory migration to RCOA of end-users with at least one megawatt (MW) demand was scheduled on February 26, 2017 while customers with at least 750 – kilowatt usage is scheduled on June 26, 2017.
But the Supreme Court issued a temporary restraining order (TRO) on DOE and Energy Regulatory Commission’s implementation of the mandatory migration of large power consumers to RCOA.