The Energy Regulatory Commission (ERC) reported around Php 50 billion in total savings for customers using electricity services from retail electricity suppliers (RES).
In a report by Manila Bulletin, ERC Chairperson Monalisa C. Dimalanta shared that RES participants have accumulated savings of Php 49.1 billion as of June 2024 compared to the same period in 2023.
Dimalanta added that RES customers benefit from an average tariff of Php 5.49 per kilowatt-hour (kWh), significantly lower than the Php 10.00 to Php 12.00 per kWh rates charged by traditional utilities like Manila Electric Company (MERALCO).
The ERC viewed the Retail Competition and Open Access (RCOA) policy, which is part of the Electric Power Industry Reform Act (EPIRA), as a successful measure which encouraged competition in the restructured power sector.
The ERC chair said that EPIRA is targeting to promote competition and supply centers, and noted the growth of the retail space as a low-profile yet significant success, allowing large consumers to choose their suppliers directly.
Furthermore, RES providers not only offers competitive prices but also innovative value-added services such as energy audits, efficiency strategies, and renewable energy (RE) and electric vehicle (EV) integration.
Many businesses, specifically multinational companies, are now opting for RE-generated electricity to meet sustainability targets and net-zero goals.
Given the success of the retail competition policy, the ERC is now aiming to lower the threshold for RCOA, allowing more Filipinos to choose their electricity providers.
The current threshold is 500 kilowatts (kW) and higher, encompassing primarily industrial and commercial users, including medium-scale enterprises.
