Business World Online
Posted on June 03, 2011 06:24:01 PM
A CEBU coal-fired power plant unit has been allowed to start commercial operations to boost supply in the Visayas grid, Energy Regulatory Commission (ERC) said in a statement Friday.
The 100-megawatt (MW) coal fired power plant unit 2 of joint-venture Korean Electric Power Corp.-Salcon Power Corp. (Kepco-SPC) "has satisfactorily complied with the financial, technical and environmental requirements of a certificate of compliance," ERC said.
Kepco-SPC was awarded the certificate on May 16.
The power plant uses clean coal technology and is expected to add at least 200 MW to the Visayas grid. It will have two units each with a capacity of 100 MW.
Peak demand in the grid as of Friday was 1,333 megawatts (MW) per hour. Capacity was at 1,727 MW with a reserve of 394 MW.
"The ERC’s grant of certificate of compliance to Kepco-SPC allows it to commence the commercial operation of their power plant and help augment the short power supply in the Visayas," ERC Chairperson Zenaida G. Cruz- Ducut said in the statement.
The power plant has existing supply agreements with seven electric cooperatives and will also sell to the spot market.
SPC’s net income fell 9.6% to P369.7 million in 2010 from P409.1 million in the year previous "due mainly to high cost of services and increase in foreign exchange losses not fully offset by the overall increase in other income as well as the reduction in administrative and general expenses and provision for income tax."
Revenues went up slightly by 1.1% to P1.67 billion despite a decline in revenues in certain subsidiaries.
Shares of SPC were previously traded on May 20 and closed at P4.10 a piece. --Emilia Narni J. David
Kepco-SPC was awarded the certificate on May 16.
The power plant uses clean coal technology and is expected to add at least 200 MW to the Visayas grid. It will have two units each with a capacity of 100 MW.
Peak demand in the grid as of Friday was 1,333 megawatts (MW) per hour. Capacity was at 1,727 MW with a reserve of 394 MW.
"The ERC’s grant of certificate of compliance to Kepco-SPC allows it to commence the commercial operation of their power plant and help augment the short power supply in the Visayas," ERC Chairperson Zenaida G. Cruz- Ducut said in the statement.
The power plant has existing supply agreements with seven electric cooperatives and will also sell to the spot market.
SPC’s net income fell 9.6% to P369.7 million in 2010 from P409.1 million in the year previous "due mainly to high cost of services and increase in foreign exchange losses not fully offset by the overall increase in other income as well as the reduction in administrative and general expenses and provision for income tax."
Revenues went up slightly by 1.1% to P1.67 billion despite a decline in revenues in certain subsidiaries.
Shares of SPC were previously traded on May 20 and closed at P4.10 a piece. --Emilia Narni J. David
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