MPOWER, the local retail electricity supplier of Manila Electric Co. (Meralco), has entered into a new retail power agreement with the Araneta group to supply electricity to its newest hotel.
In a media release on Thursday, MPower said it has renewed its contract with ACI, Inc. to power its buildings in Quezon City and cover the power requirements of ibis Styles Manila.
ACI is the corporate unit that owns and manages Araneta City, a mixed-use development with retail, entertainment, residential, and office spaces, while Araneta Hotels focuses on developing and managing hospitality ventures within the district.
“The Araneta group is committed to excellent customer service and operational efficiency. Our long-time partnership with MPower secures a reliable energy supply across our multiple properties, allowing us to deliver the highest level of service to our guests,” said Maria Manlulu-Garcia, general manager of Novotel & ibis Styles Manila.
ACI has been a partner of MPower since the latter began operations in June 2013. In 2018, MPower was also tapped to supply electricity to Araneta Hotels, Inc.
“The enduring partnership and trust given to us in powering Araneta City inspire MPower to continuously explore new avenues for growth and innovation, ensuring we deliver even greater value to our partners,” said Meralco First Vice-President and MPower Head Redel M. Domingo.
Under the Competitive Retail Electricity Market (CREM), qualified power customers consuming at least 500 kilowatts are allowed to choose their energy supplier based on their specific requirements.
MPower recently entered into retail supply agreements with Megasoft Hygienic Products, Inc., Mega Land Prime Estate Corp., SM Retail, Inc., and ABS-CBN Corp. to support the power needs of their facilities.
The company serves contestable customers, including top corporations within Meralco’s franchise area. It holds more than a 25% share of the CREM within Meralco’s franchise area.
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
