MPOWER, the retail electricity supplier of Manila Electric Co. (Meralco), is expanding its partnership with listed developer D.M. Wenceslao & Associates, Inc. (DMWAI) because it prepares to energise the corporate’s properties in Makati and Parañaque.
In a press release on Wednesday, MPower said it had signed an agreement with DMWAI subsidiary Aseana Holdings, Inc. for the transition of its business spaces and offices in Aseana City under the federal government’s retail aggregation program (RAP).
RAP allows end-users throughout the same franchise area to mix their electricity demand and qualify as a single contestable customer, enabling them to participate more competitively within the retail electricity market.
The move comes a 12 months after DMWAI shifted its properties to the competitive retail electricity market, where businesses with a minimum electricity demand of 500 kilowatts can select their preferred power supplier.
“Our relationship with Meralco and MPower has grown through the years of working closely together — from planning and constructing to full operations. Today’s milestone continues that strong partnership, and we’re confident the Meralco & MPower team will remain by our side as we move into the following phase,” DMWAI President and Chief Executive Officer (CEO) Delfin Angelo C. Wenceslao said.
DMWAI and MPower began their partnership in 2019, when the property developer first participated within the retail market program.
“This recent milestone with Aseana reflects the deep trust and shared goals which have shaped our partnership since 2019. Each collaboration — whether CREM or the recently signed RAP accounts — underscores our commitment to providing reliable energy solutions,” Meralco First Vice-President and Head of MPower Redel M. Domingo said.
MPower serves contestable customers, including large corporations inside Meralco’s franchise area, and currently holds over a 30% share of the competitive retail electricity market inside Meralco’s coverage.
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., holds an interest in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera