Back to news articlesPrimeRES Energy Corporation, a wholly owned subsidiary of Prime Infra, has been granted its Retail Electricity Supplier (RES) License by the Energy Regulatory Commission (ERC).
The ERC license allows PrimeRES to enter into retail electricity supply agreements with large electricity end-users which include contestable customers with an average monthly peak demand of 500 kilowatt and is a participant in the Retail Competition and Open Access (RCOA) scheme.
PrimeRES obtained its license after complying with the technical, financial, and administrative requisites which proves its competence to operate and sell electricity to end-users under the RCOA.
PrimeRES aims to diversify Prime Infra’s customer base from distribution utilities, electric cooperatives, and the wholesale electricity spot market (WESM), to an optimal retail customer demand portfolio mix.
PrimeRES targets to source the electricity it will sell from affiliate and non-affiliate firms, including a portion of Prime Solar, another Prime Infra subsidiary, which has a 128-megawatt capacity of clean and renewable power from its solar in Tanauan, Batangas and Maragondon, Cavite, and other future Prime Infra development projects.
“Part of our commitment in delivering socially relevant infrastructure is providing dependable energy that is accessible and affordable to people. Through PrimeRES, we will be able to bring added value to our customers as they choose and negotiate their preferred retail electricity suppliers,” said Prime Infra President and CEO Guillaume Lucci.
Aside from servicing the power demands of contestable customers, Prime Infra through PrimeRES, also aims to support the electricity needs of other companies within the Razon Group with businesses in the areas of utilities, ports, construction, hospitality, and consumer services.
“We are going to implement this along with the vision to create a synergy between Prime Infra and the Razon Group of Companies to maximize value to our stakeholders,” Lucci said.
“Prime Infra believes that PrimeRES, as one of its key business units, can help support the national government’s overall development plan to achieve energy security and resilience, while offering an integrated power solution to contestable customers,” added PrimeRES President and General Manager Daniel Arago.
