Vantage Energy, an affiliate retail electricity supplier of Manila Electric Co. (Meralco), has forged new strategic partnerships with Mindanao-based food manufacturing, processing, and distribution companies.
The company entered into retail electricity supply agreements with Philippine Spring Water Resources, Inc. (PSWRI), the manufacturer of bottled water brand Nature’s Spring, and Cagayan Corn Products Corp. (CCPC), a company that produces cornstarch, corn grits, and other key feed ingredients.
“Vantage Energy sees tremendous growth potential in Mindanao. Our new strategic partnerships with local businesses not only mark the beginning of a more energized and dynamic region but also reflect the broader momentum of development beyond the capital,” said Vantage Energy president Ernesto Cabral in a statement Tuesday.
“With our goal to deliver a stable and dependable electricity supply, we are committed to providing comprehensive and innovative solutions that will help fuel Mindanao’s economic growth and sustainable development,” he said.
Vantage Energy brings Meralco’s industry leadership and expertise in providing stable, reliable power supply and exceptional service which will support the demand growth in the Mindanao market.
These new partnerships followed the Department of Energy’s launch of the retail competition and open access (RCOA) in the region, creating the presence of a Competitive Retail Electricity Market (CREM) in Mindanao where consumers with an average peak demand of at least 500 kW over the last 12 months–the same threshold in Luzon and Visayas–are now eligible to contract their preferred retail electricity supplier.
RCOA is a framework designed to foster competition and efficiency in the retail electricity market. It empowers contestable customers to choose their electricity provider, helping improve reliability and price competitiveness nationwide.
As part of its long-term strategy, Vantage Energy aims to actively educate stakeholders in Mindanao on the benefits of CREM, encouraging electricity end-users to make informed choices based on their energy needs.