Startup to power Bicol-based mall chain at affordable cost

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    Mall chain operator LCC has partnered with Exora Technologies Inc. for three retail electricity contracts expected to generate savings worth P6 million annually.

    Among the malls that are expected to benefit from the deal are LCC Mall Legazpi, LCC Mall Tabaco and Liberty Commercial Center, all located in Bicol Region.

    However, the amount involved in the partnership was not disclosed.

    Exora bested the procurement which was participated by six retail electricity suppliers (RES) with over 25 licensed suppliers invited.

    Exora which is a startup tech company utilizes its Source platform wherein contestable consumers can connect with RES remotely and have access to 79 percent of the available retail power in the market.

    At present, contestable customers are establishments and organizations that consume at least 500 kilowatt hours of electricity monthly that are allowed to procure and negotiate for their own power supply from RES. – Jed Macapagal