Citicore renews RE supply deals

BY LENIE LECTURA – MAY 3, 2022
from Business Mirror

Citicore Energy Solutions Inc. (CESI), the retail electricity supply arm of Citicore Power Inc., said it was able to renew its renewable energy (RE) supply contracts with 5 of its long-time partners for another two years.

The contracts with Bench Tower (through Ground18), Citystate Condominium, Eastfield, Succeed Ventures Asia, and Prince Alumer Development Corp. (Padcor) are for an aggregate capacity of 5.1 megawatts (MW), the same volume of energy originally committed under the Retail Competition Open Access (RCOA).

Under RCOA, contestable customers whose peak demand falls within the threshold level of contestability can choose their electricity supplier who can offer the most competitive price and best service suitable to their needs.

“We are grateful for the continued trust and support of our customers in the product we offer and service we provide, allowing us to achieve 100 percent of our target as early as the first quarter of 2022.  We expect to continue this long-term collaboration with our existing customers and also look forward to forming new ones,” said Citicore President Oliver Tan.

The contracted capacity represents 16 percent of the company’s clients whose contracts are expiring this year.

Also, Citicore sealed closed a contract with a new commercial partner, Clear Water Ice Plant—a cold storage facility with 24/7 operations in Mandaue, Cebu. The contract was signed through CESI under its Green Energy Program (GEOP), which will source energy from Citicore Solar Cebu in Toledo.

GEOP is a mechanism that will provide end-users the option to choose RE resources as their sources of energy.

“We welcome partners from different businesses and industries who are willing and ready to shift to green energy solutions and share with us the goal of achieving a net-zero carbon future.

By educating and encouraging more end users to change their lifestyles, we can build a critical mass of RE advocates and promote a sustainable co-existence between the different stakeholders—such as RE suppliers, business partners, consumers—and the environment,” Tan added.

The company’s RE capacity portfolio stands at 163MW.