MPOWER, the local retail electricity supplier of Manila Electric Co. (Meralco), has entered right into a retail supply agreement with ABS-CBN Corp. to support the ability needs of the media company’s operations.
“Our renewed partnership with ABS-CBN reflects our constant dedication to delivering retail excellence and driving growth across diverse business industries,” Redel M. Domingo, Meralco’s first vice-president and MPower’s head, said in an announcement on Thursday.
Under the Competitive Retail Electricity Market (CREM), qualified power customers consuming at the least 500 kilowatts are allowed to decide on their energy supplier based on their specific requirements.
ABS-CBN has been a part of MPower’s customer base for the reason that retail electricity supplier began its services in June 2013.
“Working with MPower ensures that ABS-CBN has stable power to support its mission of delivering quality public service and entertainment content across various media platforms within the service of the Filipino,” said Grant Orbeta, head of ABS-CBN’s Real Estate and Development Group.
MPower serves contestable customers, including top corporations inside Meralco’s franchise area. The corporate has greater than a 25% share of the CREM inside Meralco’s franchise area.
Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc.
Hastings Holdings, Inc., a unit of PLDT Useful Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera
