ABOITIZ Power Corp. (AboitizPower) said on Friday that its retail electricity supply unit, AdventEnergy, had signed a supply contract with Breadwinners Foods Corp., the company behind homegrown neighborhood bakery chain Cocopan.
AdventEnergy will supply 147 kilowatts (kW) of power to Cocopan’s central commissary in Sta. Ana, Manila, which produces over 50,000 pieces of bread a day distributed to more than 100 branches across Metro Manila and surrounding provinces.
“At Cocopan, our core operations and baking facility have to run reliably every day. Partnering with AdventEnergy gives us a reliable energy supply and greater control over our energy, so we can pass these savings on to our customers while maintaining quality,” Cocopan Chief Financial Officer and co-founder Keenan Ugarte said.
AboitizPower said the deal fell under the government’s Retail Competition and Open Access (RCOA) program, which allows electricity end-users to choose their own licensed power provider instead of relying on their local distribution utility. This was made possible after the Energy Regulatory Commission lowered the eligibility threshold for qualified end-users under RCOA to 100 kW from 500 kW.
“A growing, evolving market shows that innovative programs work. The RCOA program has helped transform the Philippine energy industry over the years and made it more competitive, which made local businesses like Cocopan grow with it,” AdventEnergy President James Yu said.
AdventEnergy is the retail electricity arm of AboitizPower and powers over 650 commercial and industrial facilities throughout the Philippines.
Shares of AboitizPower on Friday dipped P0.50, or 1.09 percent, to close at P45.50 each amid a 2.11-percent rise for the benchmark Philippine Stock Exchange index.
