Manila Times.net
ABOITIZ Power Corp. (AP) has signed supply agreements with distribution utilities in Mindanao.
In separate regulatory filings, Agusan del Sur Electric Cooperative Inc. (Aselco) and Davao Light and Power Co. Inc. asked the Energy Regulatory Commission (ERC) to give its nod to their supply deals with AP, through the latter’s wholly-owned unit Therma Marine Inc. (TMI).
The two utilities plan to secure five and 15 megawatts for one and three years, respectively, from TMI’s power barges in Mindanao.
The start of the supply deals and their final rates are subject to ERC approval.
Aselco said in its application that it entered into a bilateral supply contract with TMI and other generation companies because “a wide area in Mindanao has already experienced frequent brownouts and power interruptions due to the scarcity of power supply and generation in the region.”
A unit of AP, Davao Light said it inked a supply deal with TMI to minimize power interruptions in its service area.
Aselco distributes electricity to the province of Agusan del Sur while Davao Light’s franchise area covers Davao City and parts of the province of Davao del Norte.
TMI owns power barges (PB) 117 and 118, which it acquired from the government through a negotiated sale in 2009.
PB 117 is a 100-megawatt power plant mounted on a barge located in Barangay Sta. Ana, Nasipit, Agusan del Norte, while PB 118 is a 100-megawatt power plant mounted on a barge located in Barangay San Roque, Maco, Compostela Valley.
Half of both generating facilities’ output, or 50 megawatts each, is under contract with National Grid Corp. of the Philippines under a power reserve agreement, which will lapse in the first quarter of the year.
AP shares fell to P28.55 apiece on Thursday from P28.70 the day before.
Euan Paulo C. Añonuevo
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