Energy Regulatory Commission (ERC) chair Francis Saturnino Juan expressed optimism over the continued growth in the number of power consumers joining the Competitive Retail Electricity Market (CREM) following the reduction in its participation threshold.
CREM allows electricity end-users to choose their power supplier, fostering market competition.
Previously, only customers with a demand of at least 500 kilowatts (kW) were eligible. The ERC has since reduced the threshold to 100 kW.
Juan said the ERC welcomes the expanded access to the retail market.
“Under the 500-kW threshold, the switching rate is only about 60 percent. With the reduction to 100 kW, more customers will qualify, and we expect the switching rate to increase,” he said in a statement to the Philippine News Agency on January 13. “We are actively promoting this, including the retail aggregation program.”
On Tuesday, MPower, the retail electricity supply unit of the Pangilinan-led Manila Electric Co. (Meralco), announced it had signed its first customer under the reduced CREM threshold – Burgundy Corporate Tower, a 38-story office condominium in Makati City. (PNA)
