Ayala Land unit goes into retail electricity

The Energy Regulatory Commission announced on Wednesday the entry of a new electricity retailer — Philippine Integrated Energy Solutions Inc. (PIESI) — owned by Ayala Land Inc. PIESI got the retail electricity supplier (RES) license that gives it the authority to buy, supply and deliver electricity, as well as engage in energy efficiency or conservation projects, energy infrastructure outsourcing and energy risk management. “ERC welcomes PIESI as the Philippines’ twelfth RES [holder]. More players in the electric power industry would lead to a healthy business competition in the open access and retail competition environment," ERC chairperson Zenaida Ducut said. PIESI was created to supply commercial and industrial customers in the Ayala Group within a regime of open access and retail competition, said the ERC. Open access gives big power users the option to choose their power source. The company will supply customers up to 50 megawatts — produced by privatized assets of the National Power Corp. and from bilateral contracts with independent power producers, new generation companies and the wholesale electricity spot market, according to the commission. PIESI is a private corporation registered with the Securities and Exchange Commission in September 2010. The Ayala Group entered the power sector with the incorporation of Michigan Power Inc., a wholly owned subsidiary that focuses on investments in hydro and wind projects. — BC/VS, GMA News