CORENERGY, Inc., a subsidiary of Vivant Energy Corp., aims to capture a larger share of the retail electricity market over the next five years, especially following the government’s move to lower the consumption threshold for consumers to switch suppliers.
“By next year, we should be around 2% and by 2030, our goal is 5%,” COREnergy Head of Sales Jose Marko Anton G. Sarmiento said during a press briefing on Thursday.
While the target may seem modest, Mr. Sarmiento noted that the company already holds a 1.3% share of the market.
Established in 2016, COREnergy is a licensed retail electricity supplier that delivers retail electricity, engineering, and rooftop solar services to commercial and industrial customers.
Mr. Sarmiento said the company aims to set the benchmark in customer experience.
“Our aim is not to be the biggest. Our aim is to be the best. So best in many areas: the best partner, the best strategic advisor to be able to help companies improve their profitability,” COREnergy President Francis S. Del Val said.
Earlier this week, the Energy Regulatory Commission (ERC) approved lowering the threshold to join the Retail Competition and Open Access (RCOA) and the Retail Aggregation Program (RAP) to 100 kilowatts (kW) of average monthly peak demand, down from 500 kW previously. The new threshold will take effect on June 26, 2026.
RCOA is a customer-choice program that allows qualified consumers to select their energy supplier, while RAP enables multiple electricity users to combine their demand to meet the required threshold.
“The threshold will be reduced to 100 kW by next year. We feel that this is a major shift in the industry. Currently, it’s at 500 kW, so bringing it down to 100 kW opens up the space dramatically,” Mr. Sarmiento said.
With the lower consumption threshold, the company expects more contestable customers to enter the market and exercise their option to select a preferred electricity supplier.
Mr. Del Val said the company has helped clients save nearly P300 million over the past three years.
He added that COREnergy can offer 10-15% savings on electricity bills compared with distribution utilities.
“Our role is to make energy work for businesses. Whether it’s helping clients unlock savings, simplifying their transition to open access, or using data to guide better energy decisions, COREnergy gives customers real control over their energy consumption,” Mr. Del Val said.
Vivant Energy holds the electric power generation interests of publicly listed Cebu-based energy and water conglomerate Vivant Corp. — Sheldeen Joy Talavera
