SINGAPORE-based energy technology and services firm Asia Energy Co. (AECO Energy) has launched its operations in the Philippines and targets to partner with contestable power users and retail electricity suppliers (RES).
“We are optimistic about the prospects that await us here in the Philippines. I’m sure our 14 years of experience in delivering energy services and solutions in mature deregulated markets will be critical to our success,” Alan Jones, chairman of AECO Energy, said in a media briefing last week.
Contestable customers have reached a power consumption threshold that allows them to buy electricity from their chosen RES under the retail competition and open access (RCOA) program. Their option to switch from a distribution utility is authorized by Republic Act No. 9136 or the Electric Power Industry Reform Act of 2001.
Mr. Jones said AECO Energy’s expansion to the Philippines will bring customer-centric market platforms to Filipinos.
The market and technology solutions company will offer an assisted, end-to-end electricity management service as well as a bidding platform exclusively developed for retail electricity suppliers to automate bidding requests from contestable customers.
“With the understanding that contestable customers’ needs are unique for every organization, our energy experts will work closely with customers to help them reduce their costs, drive efficiency, and make better buying decisions. By providing technology-based, data-led energy technology solutions, we want to create a profound impact on our customers’ business to better position them for sustainable growth in the long-term,” said Debbie Alfonso, general manager of AECO Energy.
RCOA, which introduced retail competition to the energy industry, allows a consumer with a monthly average usage of at least 500 kilowatts over the past 12 months to forge a supply contract with a RES. Energy consumers can also customize their supply contracts according to dispatch, technology, or power plant. — Ashley Erika O. Jose