Citicore Energy Solutions, Inc. (CESI), the retail electricity supplier (RES) of renewable energy (RE) firm Citicore Power, recently bagged three new contracts for the supply of RE to their respective facilities.
CESI recently closed new deals with Liberty Flour Mills Inc., known for its bakery flour and mill feeds products; Provera Nutritional Solutions Corporation , a wholesaler of feed milling and farm supplies; and South Town Centre, a three-story and 73-unit commercial shopping center in Talisay City, Cebu.
In addition, Succeed Asia Ventures, Inc. and Ground 18 Realty Corporation renewed their contracts with CESI for another two years. Succeed Asia is a real estate developer and casino operator located inside the Cagayan Special Economic Zone, while Ground 18 administers the Bench Tower inside the Bonifacio Global City in Taguig City. CESI first signed with Ground 18 in November 2020.
According to Citicore President and CEO Oliver Tan, the company looks forward to establishing partnerships while utilizing socially-responsible technologies and methodologies.
The contracts are covered by the government’s Retail Competition and Open Access (RCOA) policy. Under RCOA, contestable customers can directly contract with a RES for the volume, rate, and package of services that it prefers. RCOA intends to lower electricity prices by introducing competition among various players.
Based on the RCOA timeline, contestable customers consuming at least 500 kilowatts (kW) monthly may already choose their own electricity supplier. The threshold would then be lowered to 100kW by January 2022 and to 10kW by January 2023.