ERC grants AES license to retail electricity

AES Philippines Inc., the domestic arm of the US-based power giant,  has been granted a  retail electricity supplier (RES) license by  the Energy Regulatory Commission (ERC).

The license will enable AES to participate in the trading of electricity, particularly in  open access and retail competition in the power sector.

AES now operates the 600-megawatt Masinloc coal-fired power plant in a state auction for $930 million in July last year.

ERC data showed that AES is the seventh power company that have been licensed to trade electricity.

The other RES licensees are Cabanatuan Electric Corp., GN Power Ltd. Co., Aboitiz Energy Solutions Inc., Trans-Asia Oil and Energy Development Corp.; GNPower Mariveles Coal Plant Ltd. Co., and First Gen Energy Solutions, Inc. — Donnabelle Gatdula