AdventEnergy, Inc., the retail electricity supply (RES) arm of Aboitiz Power Corp., expects to tap the Mindanao retail electricity market by 2025.
“The business in Mindanao for the past six months has been trying to educate the market because it opened up, but in reality, people don’t really know how it works. I think we’re optimistic for 2025,” Aboitiz Power first vice president and head of retail James Yu said.
He said the company has been trying to educate the Mindanao retail competition and open access (RCOA) customers.
Yu said the challenge is to upgrade the meters of smaller customers to allow them to switch to other power suppliers.
“So, there’s still a big potential in Mindanao. We want to at least get 30-percent market share. If we are like 30 percent market share in Luzon and Visayas, hopefully, we at least get the same level. Visayas and Luzon are basically a saturated market,” he said.
He said Luzon and Visayas customers are aware of RCOA and know that they could buy power directly from retailers like AdventEnergy and its competitors.
“Literally, Luzon, Visayas are 10 years ahead of Mindanao,” he said.
The Energy Regulatory Commission (ERC) approved the eligibility thresholds for participation in the retail market in Mindanao under ERC Resolution No. 6 Series of 2024 in March 2024.
The ERC said Mindanao consumers with an average monthly peak demand of at least 500 kilowatts for the 12 months preceding March 26, 2024 would be allowed to contract with any licensed/authorized supplier of electricity on a voluntary basis.
Meanwhile, AdventEnergy was created in support of the government’s RCOA where consumers can choose their own electricity supplier.
The company has become a one-stop shop for energy solutions and power quality management.
It also serves the growing requirement of locators operating inside special economic zones through engineering, consultancy, studies and designs and management of energy.
AdventEnergy gives its partners and customers affordable access to dependable power while meeting the ever-increasing demands of nationwide consumption. These include tailor-fit energy solutions, power quality and efficiency audits and other value-added services.