MANILA, Philippines - SN Aboitiz Power (SNAP) has been granted a license by the Energy Regulatory Commission (ERC) to operate as a Retail Electricity Supplier (RES).
In a decision last June 6, 2011, ERC allowed SNAP to compete in the contestable market upon the implementation of open access and retail competition.
The RES license is issued to an entity authorized by the ERC to sell, broker, market or aggregate electricity to the contestable market, in which end-users will have a choice of a supplier of electricity.
“SN Aboitiz Power, through SNAP-RES, is proud to support the growing electric power industry in the Philippines by offering reliable and affordable electricity to consumers and end-users,” SNAP president and CEO Emmanuel Rubio said.
A joint venture between SN Power of Norway and Aboitiz Power Corp. (APC), SNAP owns and operates the 360-MW Magat Plant on the border of Ramon, Isabela and Alfonso Lista, Ifugao.
It also runs the 105-MW Ambuklao Plant in Bokod and the 100-MW Binga Plant in Tinongdan, both located in the province of Benguet.