| By Donnabelle L. Gatdula (The Philippine Star) Updated February 21, 2011 12:00 AM |
MANILA, Philippines - Eastern Petroleum Corp. (EPC) is mulling the possibility of putting up a 300-megawatt (MW) coal-fired power plant in Bataan, a ranking company official told reporters over the weekend.
EPC chairman and CEO Fernando Martinez said they would want to take advantage of the growing requirement for more power capacities in the near term.
Martinez said they are currently talking with some potential partners.
“Eastern Petroleum is thinking of crossing over the power sector. We are now looking to be a total energy company. We’re looking at putting up a merchant power plant and we’re now looking for a partner,” he said.
Asked why they chose to build a coal-fired power facility, Martinez said “the plan is to use the most environment-friendly coal.”
With open access nearing implementation, Martinez believed that more players would be encouraged to compete in the market which could result into lower electricity rates.
“We’re easily eyeing a capacity of 200 to 300-megawatt to be put up in Bataan. What I’m just saying is that we are now considering (entering the power sector), as electricity rates in the country are so expensive. An article I read says that we’re even now number one in Asia, and we’ve even surpassed Japan,” he said.
“We want to see the open access. There is an opportunity that’s much better than petroleum. The most efficient power source is nuclear and followed by coal,” Martinez added.
Open access is one of the reforms spelled out in the Electric Power Industry Reform Act (EPIRA) which will allow bulk power users to choose where to source their power requirements.
“This is a strategic move that we’re now thinking, but we will decide on that later. We’re at the early stages,” he said.
Martinez said they expect their power facility to be operational by 2015 if they would start building by 2013.
“It may take us three years. By next year, we should complete the study, start building by 2013 and commissioning by 2015. If we can afford the 300 megawatt. We have a 100-hectare site in Bataan,” he said.
EPC chairman and CEO Fernando Martinez said they would want to take advantage of the growing requirement for more power capacities in the near term.
Martinez said they are currently talking with some potential partners.
“Eastern Petroleum is thinking of crossing over the power sector. We are now looking to be a total energy company. We’re looking at putting up a merchant power plant and we’re now looking for a partner,” he said.
Asked why they chose to build a coal-fired power facility, Martinez said “the plan is to use the most environment-friendly coal.”
With open access nearing implementation, Martinez believed that more players would be encouraged to compete in the market which could result into lower electricity rates.
“We’re easily eyeing a capacity of 200 to 300-megawatt to be put up in Bataan. What I’m just saying is that we are now considering (entering the power sector), as electricity rates in the country are so expensive. An article I read says that we’re even now number one in Asia, and we’ve even surpassed Japan,” he said.
“We want to see the open access. There is an opportunity that’s much better than petroleum. The most efficient power source is nuclear and followed by coal,” Martinez added.
Open access is one of the reforms spelled out in the Electric Power Industry Reform Act (EPIRA) which will allow bulk power users to choose where to source their power requirements.
“This is a strategic move that we’re now thinking, but we will decide on that later. We’re at the early stages,” he said.
Martinez said they expect their power facility to be operational by 2015 if they would start building by 2013.
“It may take us three years. By next year, we should complete the study, start building by 2013 and commissioning by 2015. If we can afford the 300 megawatt. We have a 100-hectare site in Bataan,” he said.
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