Meralco creates new unit to retail electricity

Manila Electric Co. (Meralco) has applied for a retail electricity supplier (RES) license to be able to continue its participation in the retail electricity market as part of compliance with the new retail competition and open access (RCOA) rules it earlier opposed.

Meralco has formed a subsidiary called Vantage Energy Solutions and Management Inc. intended to retail electricity to contestable customers, or end-users who are given the choice to choose their supplier of electricity aimed to foster competition in in the generation and supply sector.

In a disclosure to the Philippine Stock Exchange, the power distributor said Vantage Energy filed an application for a RES license with the Energy Regulatory Commission (ERC) on Nov. 29.

Read more here.

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