September 29, 2024 | 12:00am
MANILA, Philippines — MPower, the local retail electricity arm of Manila Electric Co. (Meralco), has fortified its partnership with property firm D.M. Wenceslao and Associates Inc. (DMW) with a new renewable energy deal.
MPower and the DMW Group recently signed a retail supply agreement for the power supply requirements of the properties owned by the latter’s subsidiary, Aseana Holdings Inc., in Parañaque.
“We are grateful to have MPower as our trusted partner. Their commitment and expertise ensure that our office buildings and mixed-use developments will benefit from clean and renewable energy,” DMW president and CEO Delfin Angelo Wenceslao said.
This partnership aligns well with the DMW Group’s goal of energizing its properties with 100 percent renewables in support of a global push to reduce carbon emissions and promote clean power.
“MPower is proud to be with the DMW Group in enabling a greener future for everyone. We remain committed to expanding our renewable energy sources and pushing for sustainable economic growth in the Philippines,” MPower first vice president Redel Domingo said.
The Meralco unit said the newest deal sets a precedent for similar partnerships in the industry, emphasizing the importance of integrating sustainable practices in property management and development.
MPower and DMW started their partnership in 2019, and this has continued to expand as the latter’s properties meet the 500-kilowatt (kW) threshold under the retail competition and open access (RCOA) program.
Regulated by the Energy Regulatory Commission, RCOA is a framework designed to promote competition in the retail electricity market, allowing power end-users to choose their electricity providers.
Under the prevailing threshold, only consumers with an average monthly peak demand of at least 500 kW for the preceding 12 months are eligible to contract with any authorized electricity supplier on a voluntary basis.
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