Burgundy Tower moves to competitive market

Burgundy Corporate Tower has become the first customer to join the Competitive Retail Electricity Market (CREM) after the Energy Regulatory Commission lowered the eligibility threshold from 500 kilowatts (kW) to 100 kW.

MPower, the retail electricity supplier of Manuel V. Pangilinan-led Meralco, said on Tuesday that Burgundy Realty Corporation and Burgundy Corporate Towers Office Owners Association, Inc. will begin their transition in June after signing a power supply agreement.

“The lowering of the contestability threshold is a major step in expanding access to CREM, giving businesses greater flexibility and control over their strategies,” Meralco Senior Vice President and Head of MPower Redel M. Domingo said.

“I’m thrilled that Burgundy Corporate Tower is leading the way as a pioneer, setting a strong example of forward-looking energy management while fully leveraging the benefits of increased market competition,” he added. 

Burgundy Corporate Tower expects to reduce electricity costs as it joins CREM, while other commercial developments watch closely under the ERC’s new rules.

“By joining CREM, we can explore cost saving options without requiring additional funding.

Participating in this program and partnering with MPower will deliver meaningful cost savings for the building, making it a strategic and beneficial decision,” Burgundy Corporate Tower Property Manager Bernard T. Ortiz-Luis said.

The revised CREM framework allows consumers who meet the minimum consumption threshold to choose their electricity supplier based on specific needs.