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THE
Energy Regulatory Commission (ERC) Thursday said it has
awarded a license to the Team (Philippines)
Energy Corp. (TPEC) as the 8th wholesale aggregator
(WA).
In a
resolution, ERC said the Certificate of Registration was
given to TPEC after meeting the requirements for a WA as
stipulated in the Rules for the Registration of
Wholesale Aggregators. An aggregator is a person or
entity authorized by the ERC to sell electricity to a
distribution utility (DU) or a consortium or group of
distribution utilities.
“The ERC
warmly welcomes TPEC to the Philippine electric power
industry,” said ERC chairman Rodolfo B. Albano Jr.
The
registration of TPEC as wholesale aggregator indicates a
growing confidence among investors in the country’s
power sector.
TPEC has
registered with the Securities and Exchange Commission
(SEC) primarily to develop, design, construct, erect,
assemble, commission, own, operate, maintain,
rehabilitate and manage gas-turbine and other power
generating plants and related facilities.
TPEC is
a subsidiary of Team Energy Corp., an offshoot of a
consortium between Tokyo Electric Power Co. and
Marubeni, which acquired the assets of Mirant Corp. in
the
Philippines.
Team
Energy operates more than 2,000-megawatts of generating
capacity in the Philippines, and owns a 20-percent stake
in the Ilijan natural-gas project in Batangas.
Team
Energy has also committed to continue providing a stable
electricity supply to Metro Manila through long-term
electricity purchases and fuel supply contracts with the
National Power Corp. (NPC). NPC provides approximately
20 percent of the generating capacity in
Luzon, including
Manila.
“The ERC
assures all industry players and other stakeholders of a
stable regulatory environment where there is
transparency and predictability. It is hoped that
electricity service providers will work hand in hand
with the ERC as it leads consumers towards a brighter
future,”
Albano added. |
