Following the first-quarter 2025 launch of retail aggregation switches, the Energy Regulatory Commission (ERC) announced a partnership between both Ayala-led ACEN Corp. and Bank of the Philippine Islands (BPI) for the latter to switch its facilities to the retail aggregation program (RAP).

This adoption makes BPI the first bank in the country to integrate RAP through ACEN’s retail electricity supplier, ACEN Renewable Energy Solutions (RES).

According to the ERC, BPI is aggregating nearly two megawatts (MW) of power demand across 70 Metro Manila branches, while also transitioning its corporate office to renewable energy (RE) via the green energy option program (GEOP).

ERC Chairperson Monalisa Dimalanta expressed her belief that BPI would pioneer this retail aggregation move within the banking sector, stating that, “BPI’s participation in RAP sends a clear message to other banks and the entire financing sector: that the retail electricity market is viable and that it offers real opportunity for enhancing the bankability of energy projects.”

“My hope is that banks across the country will recognize the enormous potential that lies in retail competition—that they are not just financiers of power projects, but banks can also become active pillars and firm foundations of the country’s energy security.”

This RAP integration was announced during the ceremonial unveiling of ACEN RES’ “Powered by Renewable Energy” badge for BPI.

Miguel De Jesus, chief operating officer of ACEN, commended the ERC for the RAP initiative, which empowers consumers to select their own power supplier, as BPI further plans to broaden its RE shift in its operations.

A similar retail aggregation switch occurred last February when ACEN RES inked a deal with Philippine Cultural College (PCC) to aggregate three of its Manila campuses.

RAP, introduced in 2022, enables consumers to aggregate their power demand to meet the minimum threshold of 500 kilowatts (kW) in order to select their preferred supplier.