Oakridge renews deal with AboitizPower

CEBU, Philippines — Anticipating robust growth this year, homegrown developer Oakridge Realty Development Corp. (ORDC) has renewed its partnership with AboitizPower for reliable and ample power supply to its facilities.

The two companies officially signed the renewed supply deal yesterday led by ORDC chief executive officer Edmun H. Liu and Aboitiz Power first vice president for energy trading and sales Juan Alejandro A. Aboitiz.

ORDC entered into an agreement with PRISM Energy, Inc., one of AboitizPower’s retail companies actively serving contestable customers in Cebu, to supply 1.5MW of electricity to its buildings in the next two years.

With this development, ORDC is now assured of up to 26,280 MW of energy to support its expansion for the duration of the contract.

According to Aboitiz, ORDC is one of the pioneer companies in Cebu that avail of the open access power sourcing granted under the EPIRA Law or Electric Power Industry Reform Act (Republic Act No. 9136, aka Epira).

ORDC entered the power sourcing deal with AboitizPower in 2017. Yesterday the deal was renewed for another two years.

Aside from power cost savings, Liu said availing of the open access, (which allows companies choose their power supplier aside from the traditional electric provider), also benefits the clients as power efficiency and volume are assured.

ORDC first entered into a power supply agreement with AboitizPower in 2017 through PRISM Energy, Inc., the power provider’s joint venture with Cebu-based Vivant Corporation.

This partnership came at the height of the expansion of ORDC’s flagship project, the Oakridge Business Park, which aims to reinforce the company’s commitment to providing a well-balanced work-play environment for its office and retail clients.

Open access is one of the key measures to bring about competition in electricity, whereby large consumers have access to the transmission and distribution network to obtain electricity from suppliers other than the local distribution company. (FREEMAN)