By Myrna M.Velasco
Lopez majority-owned Energy Development Corporation (EDC) has inked a 2.7-megawatt power supply agreement with Continental Temic Electronics Philippines to serve the latter’s electricity requirements at its manufacturing site in Calamba, Laguna.
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/Manila Bulletin
EDC said the power to be supplied to the manufacturing firm shall be for duration of two years and it will be coming from the Bacon-Manito (BacMan) geothermal plant of the company.
The off-take agreement, according to the renewable energy-anchored firm, will formally commence by December 26 this year; and will wind up latter part of 2020. Continental Temic General Manager Glenn Everett vouched that they had chosen EDC “for its 100-percent renewable energy and for its sustainability programs which are aligned with our company values.”
Continental Temic is into development and manufacturing of components, modules and systems for the automotive industry. Although its core operation is into the manufacturing side of the business, it casts commitment that it shall be one of the responsible companies with far-reaching focus on climate protection and energy efficiency.
With a generation portfolio of 1,471.8 megawatts, EDC is highly considered one of the world’s biggest geothermal energy producers – a pride that the country can also etch on the global energy map. On the supply pact sealed by the parties, that was fundamentally underpinned by the Retail Competition and Open Access (RCOA) policy in the restructured electricity sector.
That is the policy regime which basically puts the contracting-consumer at the head of the table when it comes to its preference on the energy technology as well as pricing in power supply contracts.
For many industries and end-users already within the threshold of the voluntarily enforced RCOA, pricing had turned out very beneficial to them because they were able to secure rates that had been below the prevailing prices in the market.