COREnergy is urging Philippine businesses to look beyond cheaper electricity rates and explore ways to reduce power costs through transparent contracts, solar energy and better consumption management.
Francis del Val, COREnergy president, said the expansion of Retail Competition and Open Access (RCOA) gives eligible businesses more options to manage electricity expenses and improve profitability amid difficult economic conditions.
He cautioned companies against choosing suppliers based on rates alone, noting that minimum consumption requirements, capacity charges and adjustments linked to fuel prices and foreign exchange can affect total electricity costs.
“Understand beyond the price,” del Val said.
COREnergy promotes a simpler pricing structure, which it says helps businesses understand what they pay. “What you see is what you get with CORE. It’s one price and that’s it,” he said.
The company also recommends combining retail electricity supply with rooftop solar and monitoring electricity use through its proprietary myPower platform. Solar can reduce grid consumption during daylight hours, while retail electricity supply covers demand when solar generation is insufficient.
Villa Escudero, which already operates solar facilities, reported savings of about P4 per kilowatt-hour in electricity generation costs after switching suppliers. The resort’s experience highlights the potential benefits of combining solar generation with competitive electricity procurement, although savings vary depending on consumption and contract terms.
COREnergy said its electricity rates can be up to 30% lower than those of distribution utilities. Actual savings depend on each customer’s circumstances and supply agreement.
Del Val said businesses also need support in navigating electricity contracts and understanding the factors that affect their bills.
“It’s not just about changing your electricity supplier. It’s about building a relationship with someone who understands a relatively complex industry,” he said.
With businesses facing continued cost pressures, COREnergy is encouraging companies to take a more active approach to electricity procurement, focusing on competitive rates, clear contract terms and more efficient energy use.
