FDC Misamis Power Corporation has agreed to feed 20 megawatts of power to COREnergy for the next two years, a deal that pushes more Mindanao-generated electricity into the hands of businesses nationwide as the country’s retail power market keeps widening.
The Filinvest Group unit signed a Power Supply Agreement with COREnergy, the retail electricity arm of Vivant Energy, company officials announced this week. The contracted capacity will help COREnergy serve contestable customers, businesses large enough to shop around for their own power supplier instead of sticking with a single utility.
“This partnership with COREnergy allows us to extend the dependable power supply of FDC Misamis to more commercial and industrial customers through the retail electricity market,” said Juan Eugenio L. Roxas, President and CEO of FDC Misamis. He called it proof of a “shared commitment to forging strong industry partnerships and delivering reliable energy that supports business activity and economic growth.
For COREnergy, the deal deepens a supply portfolio that already stretches beyond Metro Manila. “Our customers are growing, and so is our responsibility to power that growth,” said Michael Lasam, the company’s Head of Commercial Operations and Strategy.
“This partnership with FDC Misamis adds meaningful capacity to our portfolio, giving us the flexibility to serve businesses beyond Metro Manila, with a stronger and more resilient supply portfolio,” he added.
FDC Misamis runs a 405-megawatt coal thermal plant in Villanueva, Misamis Oriental, a facility that has anchored the Mindanao grid since it began commercial operations in 2016. COREnergy, also launched in 2016, is licensed by the ERC to sell power directly to qualified businesses under the Retail Competition and Open Access program.
Lasam framed the agreement as part of a bigger shift already underway. “It’s a step forward in delivering the Power of Choice,” he said, “as more businesses, and soon more Filipinos, gain the freedom to choose their power supplier.”
