COREnergy, which is the power retail arm of listed Vivant Corporation, aims to maintain recovery in capacity sales to contestable customers next year and record further demand growth beyond 2023. .
As Vivant President Emil Andre M. Garcia put it, “Overall, the performance of the retail segment can be sustained in 2023 and improve beyond 2023.”
He said the big leap forward for the company’s suite of solutions in the retail electricity supplier (RES) market last year was primarily due to “the synergies between the three strands of our retail: retail electricity sales, engineering services; and rooftop solar solutions.
Garcia underlined that “it was a success in its deployment, it really reflected in the performances of last year”, although for 2022 he said it will be “a bit of a challenge as far as the SER due to higher cost of fuel, spot market – but the other two legs (Engineering Services and Solar Rooftop Solutions) will support its growth.
COREnergy’s current customer portfolio includes semiconductors, aggregates, the poultry industry and schools. It also includes services and the capacities rendered to them are of varying proportions.
Prescriptively, these fall within the consumption threshold of 500 kilowatts (kW) and above as instituted by the Energy Regulatory Commission (ERC) regarding the phasing in of retail competition policy and access (RCOA) in the electricity sector.
One of the areas that the company has highlighted to improve its services in the electricity retail market has been the digitization of its processes, so as to facilitate access and the flow of communication with its customers.
On the power side, the company uses digitization more like the mobilization of internal resources.
“COREnergy, for example, with so many retail customers that we need to serve, we’re going to make sure that our resources are properly aligned – that we can commit to delivering a project by that date…so we’re using digitization to make sure our resources are properly allocated,” Garcia said.
He also noted “other things are also on the retail side – where our interaction with our customers was based on portals, so it’s easier for them to see their usage, how much they’ve saved, etc. – it is more about internal processes and customer interfaces that we are considering in terms of digitalization.
When the company bolstered its retail market offerings to end users two years ago, Vivant emphasized that it would provide “alternative power supply options for businesses and total energy solutions” which, in turn , could help end-users reduce their overall expenses for power and services.
Under the RCOA, contestable customers or large end users can already choose their suppliers and they can also directly contract their preferred electricity services with these entities. As a result, the overall experience of RES customers has been reductions in their electricity bills as well as improved services from their electricity providers.
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