MPOWER, the local retail electricity supplier of Manila Electric Co. (Meralco), has entered into a retail supply agreement with ABS-CBN Corp. to support the power needs of the media company’s operations.
“Our renewed partnership with ABS-CBN reflects our constant dedication to delivering retail excellence and driving growth across diverse business industries,” Redel M. Domingo, Meralco’s first vice-president and MPower’s head, said in a statement on Thursday.
Under the Competitive Retail Electricity Market (CREM), qualified power customers consuming at least 500 kilowatts are allowed to choose their energy supplier based on their specific requirements.
ABS-CBN has been part of MPower’s customer base since the retail electricity supplier started its services in June 2013.
“Working with MPower ensures that ABS-CBN has stable power to support its mission of delivering quality public service and entertainment content across various media platforms in the service of the Filipino,” said Grant Orbeta, head of ABS-CBN’s Real Estate and Development Group.
MPower serves contestable customers, including top corporations within Meralco’s franchise area. The company has more than a 25% share of the CREM within Meralco’s franchise area.
Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera
