MPOWER, the local retail electricity supply (RES) unit of Manila Electric Co. (Meralco), has signed a new power supply agreement with the Gokongwei Group to serve its major facilities across Luzon.
Under the contract, MPower will supply electricity to the Gokongwei Group’s flagship companies under JG Summit Holdings, Inc., including Robinsons Land Corp., Cebu Pacific, Universal Robina Corp., JG Summit Olefins Corp., and RL Commercial REIT, Inc.
The agreement also covers Robinsons Supermarket Corp., the supermarket chain under Robinsons Retail Holdings, Inc.
“With MPower as our partner, we are able to integrate a 60% renewable energy solution into our operations. This is a meaningful step forward in our journey to reduce our environmental impact while continuing to serve Filipino communities through our businesses,” JG Summit Holdings President and Chief Executive Officer Lance Y. Gokongwei said.
The new partnership builds on the companies’ initial agreement in 2013, when MPower began supplying electricity to key JG Summit units.
“Our two groups have shared more than just business interests over the years — we’ve shared a deep commitment to nation-building, innovation, and service to the Filipino people. Through all the changes, one conviction has remained constant: that companies like ours must do more than generate value — we must create impact,” Meralco Chairman and Chief Executive Officer Manuel V. Pangilinan said.
MPower serves contestable customers, including large corporations within Meralco’s franchise area. It currently holds more than a 25% share of the Competitive Retail Electricity Market within Meralco’s coverage.
Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera
