ERC grants RES license to CELCOR
The Energy Regulatory Commission (ERC) granted the Cabanatuan Electric Corporation (CELCOR) a license to operate as a Retail Electricity Supplier (RES) on 07 May 2008. CELCOR was declared as the sixth RES license grantee after having met the qualifications and requirements set by the ERC. CELCOR is the first distribution utility (DU) to be granted a RES Iicense.
The other RES licensees include (1) GN Power Ltd. Co.; (2) Aboitiz Energy Solutions, Inc.; (3) Trans-Asia Oil and Energy Development Corp.; (4) GNPower Mariveles Coal Plant Ltd. Co.; and (5) First Gen Energy Solutions, Inc.
“The ERC welcomes CELCOR to the growing community of investors who support the reforms in the electric power industry in the Philippines. Electricity consumers will be happy to note that their power to choose their source of power is now being realized,” ERC Officer-in-Charge Alejandro Z. Barin expressed.
RES is a person or entity authorized by the ERC to sell, broker, market or aggregate
electricity to the end-users.
CELCOR is a corporation registered with the Securities and Exchange Commission (SEC) and holds a franchise under Republic Act No. 1459. As such, CELCOR is authorized to operate and maintain a distribution system for the conveyance of electric power to the end-users in Cabanatuan City, province of Nueva Ecija.
CELCOR organized its RES business to handle the buying and selling of electricity to the contestable market within and outside its franchise area in Luzon.
May 19 , 2008