Cathay Land Inc. has partnered with COREnergy to consolidate 46 electricity connection points across its industrial and residential property portfolio under the Retail Aggregation Program, allowing the developer to better manage power costs across multiple sites.
Cathay Land, the real estate development arm of The Cathay Group of Companies, said the arrangement will allow it to aggregate smaller electricity loads from different properties to meet contestability requirements and participate in the competitive retail electricity market.
COREnergy is the retail electricity arm of Vivant Energy.
The partnership gives Cathay Land greater flexibility in electricity sourcing, reporting, and long-term energy planning across its nationwide portfolio, the companies said.
“Grouping these properties under the aggregation program is a practical step toward more efficient utility management,” said Mary Ann Kocencio, vice president for corporate administration at Cathay Land.
The Retail Aggregation Program allows businesses with multiple smaller electricity accounts to combine their demand and choose a retail electricity supplier.
The deal comes as more Philippine companies with dispersed operations seek ways to improve visibility over electricity costs and manage supply risks amid volatile energy prices.
COREnergy said businesses with multiple locations often face technical and regulatory hurdles in accessing the competitive retail electricity market.
“For businesses with multiple locations, the Power of Choice should not be limited by how their meters are structured,” said Marko Sarmiento, vice president and operations head of COREnergy.
Cathay Land said the partnership forms part of its broader effort to improve operational efficiency and sustainability across its developments.
Business News Asia
