Written by Madelaine B. Miraflor Reporter Published on 01 December 2012
Global Business Power Corp., the Metrobank Group’s power unit, denied that the Energy Regulatory Commission (ERC) has rejected the petition filed by its subsidiary to hinder the National Grid Corporation of the Philippine’s (NGCP) acquisition of its power connection assets.
“GBPC would like to clarify that the ERC has not reached any decision pertaining to the ownership of PEDC’s [Panay Energy Development Corp.] power connection assets that are being questioned by the NGCP,” the company said in a statement, citing an earlier report that said ERC denied its petition to block NGCP’s acquisition of the said assets.
The company said that the ERC order dated October 24, 2012, which was released on November 15, 2012, only denied the motion to dismiss filed by the Iloilo Business Club and the Iloilo City local government on the ground of lack of jurisdiction, stating that under the Electric Power Industry Reform Act (EPIRA), the commission may hear NGCP’s application.
“The ERC has then set the pre-trial conference on December 3, 2012 to hear the said case,” the company said.
“The order does not in any way rule on the application of NGCP to acquire the assets and such will be decided upon after the conclusion of the hearings,” it added.
Earlier this month, there were reports showing that the ERC had denied the petition of PEDC to block the acquisition of its power connection assets by NGCP. The same reports said that the ERC has also denied the motions filed by the Iloilo Business Club Inc. and the Iloilo City local government to dismiss NGCP’s application to acquire the said power assets.
Meanwhile, Toledo Power Corp., another wholly-owned subsidiary of GBPC, started the operation of its 82-megawatt clean coal-fired power plant expansion project, which is an addition to its existing coal plant in Toledo City, Cebu province.
The project is intended to supply the electric power requirements of Carmen Copper Corp. beginning December 26, 2014. Carmen Copper, a subsidiary of Atlas Consolidated Mining and Development Corp., will need additional electric supply to power its mining expansion undertakings. source
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