Posted on June 02, 2017
DMCI Masbate Corp. has agreed to temporarily restore its power supply with Masbate’s electric cooperative as the two discuss ways to resolve the distribution utility’s debts owed to the Consunji-led company.
“We hope this matter is resolved immediately for the continued progress of Masbate,” DMCI Masbate said in a statement on Thursday.
It said power supply to Masbate Electric Cooperative (Maselco) had been restored effective 8:00 a.m. on Thursday “pending discussions ... with [Maselco] as to its firm and acceptable commitment to settle its overdue obligations” to DMCI Masbate as well as the upgrade of the distribution utility’s system “to ensure reliability of the power supply to its customers.”
DMCI Masbate also said it had been negotiating with its creditors and suppliers for “cooperation and support to ensure temporary supply of electricity to Maselco.”
It also said that Masbate Gov. Antonio T. Kho gave its assistance as well as the Department of Energy, the National Electrification Administration and other local government units, which it said had given their assurance “that the necessary reforms to resolve the issues will be implemented.”
DMCI Masbate is among the off-grid power companies of DMCI Holdings, Inc. under subsidiary DMCI Power Corp.
It currently has a 24.4 megawatt (MW) diesel-powered power plant in Mobo, Masbate, a 4.23 MW diesel-powered generation sets in Aroroy, Masbate, 4.23 MW diesel-powered generation sets in Cataingan, Masbate, 1 MW diesel-powered generation sets in Cawayan, Masbate and 0.75 MW diesel-powered generation sets in Balud, Masbate.
DMCI Power provides off-grid power to missionary areas through long-term power supply agreements with local electric cooperatives. It currently operates and maintains bunker-fired power plants and diesel generating sets in parts of Masbate, Oriental Mindoro, Palawan and Sultan Kudarat. -- Victor V. Saulon