As the Philippines continues to be propelled through a brighter and better future, many industries who are driving the economy to new heights are in need of greater energy to continue their progress.
This poses a unique challenge for large-scale businesses as the Philippines remains one of the countries with the most expensive electricity.
According to Australian think-tank International Energy Consultant, the Philippines has the second most expensive price of electricity in the Asia Pacific region. This makes energy one of the most cost-intensive investments a business can make. The government has made an initiative to address this problem through the Electric Power Industry Reform Act, and later on through Retail Competition and Open Access. To help address this problem, Exora, an end-to-end energy solutions platform that provides electricity through procurement and analytics, aims to assist large businesses to increase their energy savings.
Exora is a pioneering Filipino start-up in partnership with the incubator program of the Ateneo de Manila University and the institution’s School of Science and Engineering. Exora helps establishments such as manufacturing plants, hospitals, and universities who have at least ₱2,500,000.00 in electric bills save more.
“Our platform, called Exora Source, will help you find the retail electricity supplier that best fits your energy profile and needs, which can help you save up to 30 percent in your electricity bill,” Sergius Santos of Exora said. “But we don’t stop there. We also offer a real-time energy monitoring system which generates data and analytics on your energy consumption that can assist you in making cost-effective decisions. The granularity of the data collected will also allow the energy suppliers in future bidding to further optimize their offers, resulting in even cheaper electricity rates.”
Exora also assists its customers by providing a comprehensive service to benchmark the latter’s feasibility of becoming a contestable customer which will enable them to select a retail electric supplier.
One of the most successful partners of Exora to date is Liberty Flour Mills, one of the country’s leading manufacturers and distributors of flour and its by-products. Through Exora Source, the company contracted a lower energy cost from PHINMA Energy Corp. in a process that was completed in a significantly reduced period of less than three weeks from the usual four to six months.
“Exora Source is transparent, consumer-responsive and a technology-driven procurement process which is an enabler and a game-changer in the evolving landscape of the country’s energy industry that will benefit the consumers in furtherance of the RCOA,” Sandra Judy Uy, Senior Vice President of Liberty Flour Mills said. “We commend Exora’s commitment to innovation and technology in making energy procurement more efficient and customer-driven.”
There are at least 30 energy suppliers, including well-established companies like AboitizPower, Phinma Energy Corp., Core Energy and First Gen, to name a few. Exora’s platform helps its customers connect with the right retail electric supplier.
“We bring together suppliers and clients in one place to contend for the best energy contract and pricing options. We create a system with streamlined execution, fair competition, and innovation,” Sergius Santos added.
“Exora’s aim is to make electricity more affordable and more accessible to all Filipinos. Aside from the reduced product prices that will eventually be felt by Filipinos because of the reduction in power costs, a main (sometimes overlooked) benefit is that the Philippines will become a much more attractive investment destination. We might actually be at the cusp of having a boom in the Philippine economy because of this.” We can do this through the digitalization of energy through technology,” Sergius Santos concluded.
To learn more about Exora, visit https://www.exora.ph/.
