VECO inks retail supply contract with SMC

Visayan Electric Company (VECO) signed a Retail Supply Contract (RES) with San Miguel Corporation (SMC).

Under the agreement, VECO will provide for all of the electricity required by the SMC Mandaue plant during the Retail Competition and Open Access period. This supply contract is the second open access contract signed by VECO with its large customers within its franchise area.

Retail Competition and Open Access (RCOA) is a major milestone in the Philippine electric industry as it allows electricity endusers with an average monthly peak demand of one MW to choose their electricity service supplier. The signatories to the agreement were VECO’s Chief Operating Officer, Sebastian Lacson, and SMC Vice President and Chief Finance Officer and Treasurer, Ferdinand K. Constantino who was represented by Assistant Vice President and SMYPC Mandaue Glass Plant Manager, Ramon Q. Pono.

The signing was witnessed by top VECO officials: Ricardo Lacson, Jr. (VP-Customer Services), Lyndon Jayme (AVP-Utility Economics) and Engr. Mark Kindica ( VECO Engineering Operations Manager), and SMC executives Engr. Robert Malilin (Power and Energy Consultant, Archen), Ricky Tablante (Assistant Vice President and San Miguel Brewery Inc. Plant Manager), Jaime de Larrazabal (SMYPC Metal Closure and Lithography Plant Manager) and Ramonito Lapina ( SMC Mandaue Power Plant Dept. Head).

Sebastian Lacson, thanked SMC for choosing VECO’s offer as the best supply alternative. He also assured SMC of the benefits VECO can offer in terms of technical services by citing that VECO will further boost its network in linking its substations directly to the SMC Mandaue plant by the 2nd quarter of next year.

VECO’s Lacson and SMC's Malilin jointly expressed their pleasure that the parties sealed the contract expeditiously as both sides understood the power business and considered each others' needs in coming up with the agreement.

VECO’s franchise area covers the cities of Cebu, Mandaue, Naga and Talisay, and the municipalities of San Fernando and Consolacion.

Visayan Electric Company (VECO) and San Miguel Corporation (SMC) recently signed an agreement for VECO to supply SMC with power during the open access period. The Retail Supply Contract was signed by (L-R) SMC Energy Consultant Engr. Robert Malilin;...