Business Mirror
Published on Wednesday, 20 February 2013 19:20 Written by Lenie Lectura / Reporter
SEMIRARA Mining Corp. has created a new subsidiary, Semirara Energy Utilities Inc., to provide power supply in remote areas.
“We are in receipt today a copy of Semirara Energy Utilities Inc.’s Articles of Incorporation and By-Laws, a wholly owned subsidiary of Semirara Mining Corp., approved by the Securities and Exchange Commission on February 18, 2013,” said Semirara Corporate Information Officer John Sadullo in a disclosure to the stock exchange.
Semirara’s new unit is tasked to perform qualified third-party (QTP) functions in relation to Section 59 of Republic Act 9136, or the Electric Power Industry Reform Act of 2001 (Epira), and its implementing rules and regulations.
Department of Energy Circular 2004-06-006 defines a QTP as an alternative electric service provider authorized to serve identified remote and unviable areas.
“The new company intends to act as the QTP over barangays of Semirara, Tinogboc and Alegria, all located at Semirara Island [in] Caluya, Antique,” the company said in its disclosure.
The identified barangays are within the franchise area of the Antique Electric Cooperative Inc. (Anteco), which declared in April 2011 that the areas mentioned are unviable and thus waived its operation in the said areas. This was manifested under the Anteco Resolution 36-11.
Semirara Mining is the only large-scale coal producer in the Philippines and is engaged in surface open-pit mining of thermal coal from its Panian mine on Semirara Island. source
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