EASTERN Petroleum Corp., one of the country’s independent oil players, is looking at venturing into the power generation as it wants to provide consumers with a much stable and competitively priced power supply, Fernando Martinez, the company’s chairman and chief executive, told reporters on Friday.
The impending start of the open access scheme, according to Martinez, made the company consider crossing over to the power sector. Open access system allows any qualified person the use of electric power transmission, and/or distribution system, and associated facilities subject to the payment of transmission and/or distribution retail wheeling rates approved by the Energy Regulatory Commission.
“We are now looking [at becoming] a total energy company. We’re looking at putting up a merchant power plant that can generate around 200 megawatts (MW) to 300 MW of electricity using the most environmental coal,” said Martinez, adding that they are also looking partners for the project.
He noted that Bataan is a possible area for the company’s planned coal-fired power plant.
“We are now considering [entering the power sector], as electricity rates in the country are so expensive. Why can’t we have the cheapest power rates?” he emphasized.
Martinez, however, qualified that plans to enter the power sector are still at the early stages and that they will eventually look into this once open access starts.
The Eastern Petroleum official said it may take his company three years to build the power plant. “By next year, we should complete the study and start building by 2013 to have the plant commissioned by 2015,” he said.
In another development, Martinez revealed that Eastern Petroleum has made available the first ever Euro 4-compliant diesel in the Philippines.
“Even with this new offering, motorists can rest assured that the Euro 4-compliant diesel will have no impact on costs, as we co-share shipments of around 40 million liters of Euro 4 diesel with Unioil Petroleum Philippines Inc.,” Martinez said.
Euro 4-compliant diesel is certified to only have 50 parts per million (ppm) or less than 90 percent of sulfur content compared with the existing Philippine standard of 500 ppm.
“Euro 4-compliant diesel is guaranteed to lower the emission of impurities by as much as 60 percent based on a recent test conducted by the Department of Environment and Natural Resources (DENR) on two pickup utility vehicle that has been from three to five years,” Martinez said. After two hours of continues driving, emission tests conducted on February 10 and 14 showed significant results.
Martinez said that emission of impurities was reduced by as much as 60 percent.
Martinez said that emission of impurities was reduced by as much as 60 percent.
He added that the pickup trucks were tested after three days of using the Euro 4 diesel “Not only did it surpass the DENR standards, but it even reduced emission further by as much as 60 percent,” he said.
The new diesel, according to Martinez, is now the cleanest and most competitively priced diesel being sold in the country. As a result, Eastern Petroleum is geared to join other Philippine environmental warriors committed to the full implementation of the Clean Air Act that prescribes the desired emission standard and fuel quality. This has been hampered by repeated refusal by some oil companies to introduce higher-grade fuels.
No comments:
Post a Comment