Yuchengco-led EEI Energy Solutions Corporation (EEI Energy) has joined the league of retail electricity suppliers (RES) in the restructured power sector, cornering a mall and an animal feeds manufacturer among its first clients.
The company disclosed that it recently signed up Centro Mall, which is a known shopping destination in Laguna and a certified feed miller Limcoma Multi-purpose Cooperative as off-takers (or capacity buyers) of its traded power supply under the ambit of the Retail Competition and Open Access (COA) policy in the electric power industry.
“Centro Mall and Limcoma Corporation are among the first accounts closed by EEI Energy within just six months into its operation,” the company said.
EEI Energy, a licensed retail power supplier by the Energy Regulatory Commission (ERC), emphasized that the requirement of each customer had been at 500 kilowatts (kW), which is the current threshold allowed under the competitive retail regime of the power sector.
The Yuchengco firm noted that its total contracted capacity to date is approximately 3.5 megawatts. Its clients include a Southeast Asian aqua culture manufacturing firm that it had signed up for retail power supply in May this year.
This diversification business of EEI Energy, according to company President Cris Noel Torres, “is a testament to the dependability and reliability that EEI is known for and the value-added services that we can make available to our customers considering the diverse business interest of our group.”
Valia Quinajon, operations manager of EEI Energy, indicated that from the initial clients they already have under the firm’s RES portfolio, the company is targeting to further widen its customer base. “These accounts will definitely be the first of many customers we will serve with our unique offerings,” she said.
“While we look forward to a lasting and sustainable business relationship with our customers, we are aggressively working on providing the same, if not more, level of service to other contestable customers across the Luzon and Visayas market.”
In the RCOA space, the contestable customers or the end-users within prescribed thresholds that can already contract directly with their preferred electricity suppliers are seen benefiting from better quality service and cheaper rates. Some are also opting for electricity supply or services that are sourced from clean energy technologies.
It was similarly highlighted by EEI Energy General Manager Salvador Salire Jr. that the company is “ramping up efforts to further penetrate the retail market and with synergistic efforts within the EEI Group and the entire Yuchengco group of companies.”
He added “it will just be a matter of time for EEI Energy to carve its place in the retail energy space as one of the most innovative retail electricity suppliers in the country and be able to deliver quality service to our customers.”
Among the industry developments being closely watched by EEI Energy would be the economic recovery track of the country post-Covid; the lowering of RCOA threshold to 100kW by January 26 next year; and the targeted increase in the renewable energy (RE) capacity installation of its parent firm EEI Power Corporation.