August 23, 2017
DAVAO CITY — Power distributors
Davao Light and Power Co. (Davao Light) and the Davao del Norte Electric
Cooperative, Inc. (Daneco) have formalized their offer to buy the
sub-transmission assets of National Transmission Corp. (TransCo) in Davao del
Norte.
A notice from the Energy Regulatory
Commission (ERC) indicates that it has scheduled a hearing on the purchase
proposal worth about P4.705 million on Sept. 20 in Davao City. Officials of
both distribution entities declined to comment on their proposal pending the
hearing.
Davao Light and Daneco are offering
to buy the Bingcungan-Madaum 69-kilovolt line and Bingcungan-Tagum 69-kilovolt
line of TransCo.
The hearing, based on the ERC
notice, will tackle compliance of requirements, including the presentation of
facts for the sale.
TransCo and the Davao Light-Daneco
partnership completed the contract for the sale on March 16, 2012, about four
months after the start of negotiations.
The government transmission company
initiated the sale after the ERC, on July 16, 2011, issued a resolution
amending its rules on the sale of TransCo’s sub-transmission assets.
The partnership between Davao Light,
a unit of Aboitiz Power Corp., and Daneco dates back to 2011.
The two utilities both serve the
province of Davao del Norte, with Davao Light covering the towns of Carmen,
Dujali and Sto. Tomas as well as Panabo City, while Daneco handles the rest of
the municipalities and the neighboring province of Compostela Valley. They
jointly provide power to the Island Garden City of Samal. — Carmelito Q.
Francisco
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