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ERC renews registration of First Gen Energy Solutions, Inc as a Wholesale Aggregator

The Energy Regulatory Commission (ERC) awarded on 11 June 2012 the renewed Certificate of Registration as Wholesale Aggregator (WA) to First Gen Energy Solutions, Inc. (FGES).  FGES was able to comply with the requirements specified under the Rules for the Registration of Wholesale Aggregators.  The ERC, upon due evaluation, has found that FGES continues to possess the technical, managerial resource, and financial capabilities needed for the management and operation as a Wholesale Aggregator (WA). FGES was first issued a Certificate of Registration as a WA by the ERC in May 2007.  The renewed registration will be valid for the next five (5) years or until May 2017.
First Gen Energy Solutions, Inc.
ERC Chairperson and CEO Zenaida G. Cruz-Ducut hands over the renewed Certificate of Registration as Wholesale Aggregator to Mr. Victor Santos,Senior Vice President for Regulatory of First Gen Energy Solutions, Inc. (FGES). Witnessing the awarding are (L to R) ERC Commissioners Gloria Victoria Yap-Taruc, Maria Teresa R. Castañeda, Mr. Arman Lapuz, FGES’ Vice President for Power Marketing), Mr. Carlo Vega, FGES’ Senior Manager for Regulatory, ERC Commissioners Jose C. Reyes and Alfredo J. Non


FGES is a private corporation that registered with the Philippine Securities and Exchange Commission (SEC) in October 2006.  One of the primary purposes of FGES is to engage in the marketing, supply, delivery, purchase and sale of electricity and to develop, design, construct, assemble, commission, own, operate, maintain, rehabilitate, and manage facilities used in connection with the marketing, supply, delivery, purchase and sale of electricity.  It is a wholly-owned subsidiary of First Gen Corporation (First Gen as Parent Company) which is 66.2% owned by the First Philippine Holdings Corporation (FPHC), the ultimate parent of the company.  The First Gen and FPHC are both incorporated in the Philippines. 

FGES is currently negotiating with its prospective customers regarding the Wholesale Aggregation business, but has not finalized and signed any contract yet.  Under Article III, Section 5 of the Rules for the Registration of Wholesale Aggregators, the ERC shall review and approve all contracts entered into by the distribution utilities with the Wholesale Aggregators as mandated in Section 45 (b) of R.A. No. 9136 or the Electric Power Industry Reform Act (EPIRA).

FGES’ potential customers include electric cooperatives (ECs) that have loads ranging from ten to fifty-five megawatts (10~55 MW) presently covered by Transition Supply contracts (TSCs) with the National Power Corporation (NPC).  These TSCs cannot last longer than one (1) year from the commencement of Open Access and Retail Competition (OARC).  Its power procurement plan involves at least four (4) power plants that use hydro, natural gas and geothermal technologies with four other sources being studied.

 "The renewal of the Certificate of Registration as Wholesale Aggregator of First Gen Energy Solutions, Inc. (FGES) provides supply options to distribution utilities and helps ensure a stable supply of electricity.  The ERC will continue to monitor FGES’ compliance to the Terms and Conditions of the Certificate of Registration particularly the monitoring of contracts entered into by FGES with its customers,” ERC Chairperson Zenaida G. Cruz-Ducut stated.   
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"ERC renews registration of First Gen Energy Solutions, Inc as a Wholesale Aggregator" was written by Mary under the News category. It has been read 3232 times and generated 0 comments. The article was created on and updated on 14 June 2012.
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