ERC Chairperson and CEO Zenaida G. Cruz-Ducut hands over the renewed Certificate of Registration as Wholesale Aggregator to Mr. Victor Santos,Senior Vice President for Regulatory of First Gen Energy Solutions, Inc. (FGES). Witnessing the awarding are (L to R) ERC Commissioners Gloria Victoria Yap-Taruc, Maria Teresa R. Castañeda, Mr. Arman Lapuz, FGES’ Vice President for Power Marketing), Mr. Carlo Vega, FGES’ Senior Manager for Regulatory, ERC Commissioners Jose C. Reyes and Alfredo J. Non
FGES is a private corporation that registered with the Philippine Securities and Exchange Commission (SEC) in October 2006. One of the primary purposes of FGES is to engage in the marketing, supply, delivery, purchase and sale of electricity and to develop, design, construct, assemble, commission, own, operate, maintain, rehabilitate, and manage facilities used in connection with the marketing, supply, delivery, purchase and sale of electricity. It is a wholly-owned subsidiary of First Gen Corporation (First Gen as Parent Company) which is 66.2% owned by the First Philippine Holdings Corporation (FPHC), the ultimate parent of the company. The First Gen and FPHC are both incorporated in the Philippines.
FGES is currently negotiating with its prospective customers regarding the Wholesale Aggregation business, but has not finalized and signed any contract yet. Under Article III, Section 5 of the Rules for the Registration of Wholesale Aggregators, the ERC shall review and approve all contracts entered into by the distribution utilities with the Wholesale Aggregators as mandated in Section 45 (b) of R.A. No. 9136 or the Electric Power Industry Reform Act (EPIRA).
FGES’ potential customers include electric cooperatives (ECs) that have loads ranging from ten to fifty-five megawatts (10~55 MW) presently covered by Transition Supply contracts (TSCs) with the National Power Corporation (NPC). These TSCs cannot last longer than one (1) year from the commencement of Open Access and Retail Competition (OARC). Its power procurement plan involves at least four (4) power plants that use hydro, natural gas and geothermal technologies with four other sources being studied.
"The renewal of the Certificate of Registration as Wholesale Aggregator of First Gen Energy Solutions, Inc. (FGES) provides supply options to distribution utilities and helps ensure a stable supply of electricity. The ERC will continue to monitor FGES’ compliance to the Terms and Conditions of the Certificate of Registration particularly the monitoring of contracts entered into by FGES with its customers,” ERC Chairperson Zenaida G. Cruz-Ducut stated.
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