First Gen Energy Solutions Inc. (FGES) is a wholly owned subsidiary of First Gen Corporation (First Gen), the Philippines’ leading clean and renewable energy company with an installed capacity of 2,763 megawatts in its portfolio of 11 power plants. These power plants mainly rely on clean, indigenous and renewable sources of energy, such as natural gas, geothermal and hydro. First Gen also has in its pipeline other renewable energy projects that include a solar, wind farm and additional run-of-river hydroelectric plants.
Being a major independent power producer, First Gen saw the need to incorporate FGES in 2006 as part of First Gen’s preparation for the liberalization of the country’s power market to Wholesale Aggregation, as well as Retail Competition and Open Access. Wholesale Aggregation enables suppliers to match customer needs with an aggregated power generation portfolio. Through Retail Competition and Open Access, customers have the opportunity to choose a supplier that can deliver the greatest business value. Under an Open Access regime, First Gen envisions FGES as a vehicle to help expand the customer base and the market segments that First Gen serves.
In support of the First Gen’s aim, FGES positions itself as the supplier of choice by understanding the customer’s business needs and developing innovative solutions that offer real and added value, which transcends the traditional power supply contract. These innovative solutions include an Energy Audit that FGES has designed to help a customer consume electricity more efficiently. FGES also has applications for monitoring and analyzing a customer’s consumption of each electric machine and equipment, as well as for efficient lighting and timely use of air conditioning.
While First Gen backs up FGES’ supply options, FGES intends to actively source and aggregate supply from other generation companies that provide value by matching the demand requirements of its customers and supply portfolio.
FGES is also a registered participant in the Wholesale Energy Spot Market (WESM). FGES’s experience and market expertise allow FGES to structure innovative power supply contracts that maximize customer benefits through an optimum trading strategy.